Refer to Scenario 1-3. Using marginal analysis terminology, what is another economic term for the incremental cost of producing the last 400 t-shirts?
A) operating cost B) explicit cost
C) marginal cost D) Any of the above terms are correct.
C
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If bank reserves are 200, the public holds 400 in currency, and the desired reserve/deposit ratio is 0.20, the deposits are ________ and the money supply is ________.
A. 400; 800 B. 200; 600 C. 600; 1,000 D. 1,000; 1,400
Compared to the quantity produced under perfect completion, what does the monopolist produce?
a. The same amount as the perfect competition quantity b. More than the perfect competition quantity c. Less than the perfect competition quantity d. Either more or less than the perfect competition quantity
Which of the following items is recorded in the financial account?
A. A Chinese businessman imports Ford automobiles from the United States. B. A U.S. tourist spends money on a trip to China. C. The New York Yankees are paid $10 million by the Chinese to play an exhibition game in Beijing, China. D. Ford Motor Company of the United States provides part of the financing for a new automobile factory in China.
In the 1970s our economy suffered from _____ and _____.
Fill in the blank(s) with the appropriate word(s).