The foreign holdings of U.S. dollars
a. reduce the living standards of Americans.
b. are not included in the M1 money supply.
c. account for approximately half of all U.S. currency issued by the Fed.
d. are hard to explain since the dollar is not legal tender outside the United States.
C
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Marginal cost curves and average cost curves are both purely upward sloping.
Answer the following statement true (T) or false (F)
Which firm is not dealing with adverse selection
a. a manufacturer forgoes a usual 90 day probationary period for new employees b. a temporary clerical agency requires a typing test c. a manufacturer requires suppliers to be ISO 900 . certified d. Smokers get the worse life insurance rates as non-smokers
David tunes pianos in his spare time for extra income. Buyers of his service are willing to pay $135 per tuning. One particular week, David is willing to tune the first piano for $115, the second piano for $125, the third piano for $140, and the fourth piano for $175 . Assume David is rational in deciding how many pianos to tune. His producer surplus is
a. $-15. b. $20. c. $30. d. $75.
When a good is excludable,
a. one person's use of the good diminishes another person's ability to use it. b. people can be prevented from using the good. c. no more than one person can use the good at the same time. d. everyone will be excluded from using the good.