A supply schedule is determined by the wishes of
A. sellers.
B. buyers.
C. sellers and buyers.
D. neither sellers or buyers.
A. sellers.
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Most of the day-to-day power in monetary policy decisions lies with
A) the President of the United States. B) the Senate Banking Committee. C) the chairman of the Board of Governors. D) large commercial banks.
All of a firm's inputs are considered to be variable in the long run
a. True b. False Indicate whether the statement is true or false
Hasan has eaten three slices of pizza. What would be the marginal utility of the next slice?
a. 4
b. 6
c. 24
d. 28
Which of the following arguments is not generally made to justify farm subsidies?
A. The "family farm" is an American institution that should be protected and nurtured. B. Agribusiness firms need subsidies to achieve economies of scale. C. Farmers sell their output in purely competitive markets but must buy inputs from imperfectly competitive firms. D. Farmers cannot fully insure themselves against the risks unusual to farming, such as floods, droughts, and pests.