Pension funds ________
A) acquire access to funds by accepting deposits then using these monies to lend to households and firms
B) raise funds by selling commercial paper then lend these funds to consumers
C) are a special type of mutual fund
D) acquire access to monies through the payment of premiums by employees
D
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Gross domestic product measures the value of all final goods and services produced within a country by
a. domestic resources only. b. foreign resources only. c. both domestic and foreign resources. d. domestic resources minus production by foreign resources.
In December of 2007, with an unemployment rate of 5.0 percent, most economists believed this was above the natural rate
a. True b. False Indicate whether the statement is true or false
In short-run profit maximization, businesses focus on the ______, holding fixed costs constant.
A. short-term production function B. long-term cost function C. average input cost D. short-term cost function
The accompanying graph shows the cost curves for Moe's mushroom gathering business, which is perfectly competitive.
The curve labeled A is upward sloping because:
A. an increase in the demand for mushrooms increases the supply of mushrooms. B. of high fixed costs. C. variable costs increase as output increases. D. of diminishing returns to Moe's variable factors of production.