In the short run, a firm should shut down its business if price is less than:
A. ATC.
B. AR.
C. MC.
D. AVC.
Answer: D
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Explain how the courts have ruled on price fixing
What will be an ideal response?
The two flows, or things being exchanged, in the circular flow model are:
A. inputs and outputs. B. imports and exports. C. inputs/outputs and money. D. land and labor.
Based on the following information, the value of the M1 measure of the money supply is ________ and the value of the M2 measure of the money supply is ________. AssetsBillions of DollarsCurrency20Demand deposits30Money market mutual funds80Travelers' checks5Savings deposits180Other checkable deposits20Small denomination time deposits110
A. $255 billion; $445 billion B. $445 billion; $445 billion C. $75 billion; $445 billion D. $55 billion; $425 billion
The Fed is often considered the bankers' bank because it
a. demands much more currency than it has available b. no longer has a monopoly on printing paper currency c. lowers the discount rate in order to restrict the money supply d. holds banks' reserves, provides banks with currency and loans, and clears their checks e. refuses to use its power of open market operations when a quorum of state-chartered bankers petitions it