Use the above figure. The ATC at output 10 is
A. $2.67.
B. $2.00.
C. $3.00.
D. $30.00.
Answer: C
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Money demand is given by Md/P = 1000 + .2Y - 1000i. Given that P = 200, Y = 2000, and i = .10, real money demand is equal to
A) 1300. B) 1500. C) 260,000. D) 300,000.
Niceville, Ohio, only has two dentists, while the surrounding communities have many more on a per capita basis. The demand for dental services is such that these two dentists could agree to raise their prices (they play golf together every Saturday) and earn economic profit. Instead, they choose to price competitively and earn what other dentists earn. What might explain this?
The concept of aggregate supply refers to a
A. fixed number of output. B. list of products demanded. C. schedule of output. D. schedule of production costs.
The principal reason(s) that so much U.S. currency is held outside the U.S is (are) ________
A) many people around the world trust the U.S. dollar more than any other currency B) banks all around the world find it convenient to hold large amounts of U.S. dollars C) U.S. citizens and corporations spend a lot of dollars abroad D) all of the above E) none of the above