The paper currencies of the U.S. are also called:
A. Federal Reserve notes
B. Treasury Bills
C. U.S. Government notes
D. Treasury bonds
A. Federal Reserve notes
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Bonzo is in business for himself making and selling Easter baskets. His daily cost for wicker is $100 and his daily revenue is $120. Bonzo quit his job at the Basket Weaving factory where he earned $15 a day, to enter the Easter basket business. Given this information, we know that his accounting profit
a. is $120 and his economic profit is $105. b. and economic profit are both $20. c. is $20 and his economic profit is $5. d. and economic profit are both $5.
Refer to Figure 23-1. If the economy is at point J, what will happen?
A) Inventories have fallen below their desired level, and firms increase production. B) Inventories have risen above their desired level, and firms increase production. C) Inventories have risen above their desired level, and firms decrease production. D) Inventories have fallen below their desired level, and firms decrease production.
When the economy slows down the:
A. demand for workers increases. B. supply of workers increases. C. demand for workers decreases. D. supply of workers decreases.
If real GDP is higher in one country than in another, then we can be sure that the standard of living is higher in the country with the higher real GDP
a. True b. False Indicate whether the statement is true or false