When a perfectly competitive firm experiences zero economic profits
A) the high barriers to entry prevent further competition.
B) existing firms exit the industry.
C) additional firms enter the industry.
D) firms have no incentive to exit or enter the industry.
D
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The federal agency that ensures that potential security purchasers are well informed is the
A) FCC. B) FTC. C) NRC. D) SEC.
The average person is more likely to make a mistake choosing ___________ than what to have for dinner due to the complex nature of the topic.
A. how to save for retirement B. which college to attend C. which type of health plan to choose D. All of these statements are true.
Recall the Application about the best speed at which to sail an ocean cargo ship to answer the following question(s).Weighing the benefits and costs of the different speeds at which to sail an ocean cargo ship addresses the economic concept known as:
A. the principle of opportunity cost. B. the marginal principle. C. the principle of voluntary exchange. D. the principle of diminishing returns.
Refer to the information provided in Scenario 25.1 below to answer the question(s) that follow.SCENARIO 25.1: The following table shows the changes in deposits, reserves, and loans of 4 banks as a result of a $100,000 initial deposit in Bank No. 1. Assume all banks are loaned up.
Refer to Scenario 25.1. What is the required reserve ratio?
A. 4% B. 5% C. 8% D. 10%