Bob, the owner of a local deli in town, needs to purchase something that economists would label as "capital" to help him produce sandwiches. Which of the following is an example of capital?
Answer: A meat slicer to cut ham for sandwiches
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During George W. Bush's presidency
A. the job market was quite robust. B. The United States' federal budget deficit hit a record high. C. the federal budget surpluses in the last years of the Clinton presidency continued. D. we experienced a very high inflation rate.
The Troubled Asset Relief Program (TARP) allowed
A) the Treasury to inject funds into commercial banks in return for stock in the banks. B) the Fed to provide funds to commercial banks in return for stock. C) the Treasury to insure bank deposits at major U.S. banks. D) the Fed to make loans to banks as the lender of last resort.
Since the 1870's, the decade with the slowest average annual percent growth rate in labor productivity was the 1970's
Indicate whether the statement is true or false
Which of the following statements about a monopolistically competitive firm is FALSE?
A) It tries to differentiate its product from that of competitors. B) It may earn short-run economic profits. C) It produces the quantity at which MC=MR. D) It sets price like a perfectly competitive firm.