The two most important actors of the economy are:
A. land and capital.
B. households and firms.
C. firms and capital.
D. exports and imports.
B. households and firms.
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In order to maximize profits
A) the derivative of total revenue with respect to quantity must be less than the derivative of total cost with respect to quantity. B) the derivative of total revenue with respect to quantity must be greater than the derivative of total cost with respect to quantity. C) the derivative of total revenue with respect to quantity must equal the derivative of total cost with respect to quantity. D) none of these choices.
For the single-price monopoly, marginal revenue is
a. more important than marginal cost b. always more than marginal cost c. always less than average cost d. always less than the price of output e. more significant than total revenue
Because of the American national debt, future Americans will be burdened by heavy interest payments which will necessitate higher taxes
a. True b. False Indicate whether the statement is true or false
The major tools of monetary policy available to the Federal Reserve System are
A) reserve requirements, margin regulations, and moral suasion. B) reserve requirements, open-market operations, and the discount rate. C) open-market operations, margin regulations, and moral suasion. D) the discount rate, margin regulations, and moral suasion.