A firm should exit an industry if price is less than average cost.
a. true
b. false
Answer: a. true
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The recent interventions in Sudan, Yugoslavia, and Libya were all motivated by the need to _______, while Rwanda in 1994 and Syria in 2012 had the same need but lacked such intervention.
Fill in the blank(s) with the appropriate word(s).
For the U.S. economy, money holdings are a
a. large part of household wealth, and so the interest-rate effect is large. b. large part of household wealth, and so the wealth effect is large. c. small part of household wealth, and so the interest-rate effect is small. d. small part of household wealth, and so the wealth effect is small.
Refer to the above graph. A budget surplus would be associated with GDP level:
A. H. B. J. C. L. D. K.
What is the history behind the idea of a fractional reserve banking system?
What will be an ideal response?