In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio equals 10 percent, FBN Bank has excess reserves of
A) $280 million.
B) $200 million.
C) $360 million.
D) $0.
A
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Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her accounting profit?
A) $12,000 B) $56,000 C) $86,000 D) $98,000
A firm's long-run average cost curve represents the minimum cost of producing each level of output when the scale of production can be adjusted.
Answer the following statement true (T) or false (F)
Marginal revenue is the
A. added revenue that a firm takes in when it increases output by one additional unit. B. additional profit the firm earns when it sells an additional unit of output. C. difference between total revenue and total costs. D. ratio of total revenue to quantity.
The demand curve for AIDS drugs is likely to be
A. upward sloping. B. vertical or close to vertical. C. no different that the demand for aspirin. D. horizontal or close to horizontal.