Some financial institutions are classified as depository institutions based on:
a. the way they acquire funds
b. the number of customers they have.
c. the number of loans they make.
d. the size of the loans they make.
e. the amount of reserves they hold.
a
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If the price exceeds the average variable cost, by producing the level of output such that marginal revenue equals marginal cost, the firm ensures that it will
A) earn an economic profit. B) not suffer any losses. C) earn the largest profit possible. D) survive in the long run.
"A perfectly competitive firm will shut down if the price falls below its average total cost." Do you agree? Explain
What will be an ideal response?
The Navigation Acts required that colonists use England as an "entrepot.". This resulted in
a. additional shipping and handling costs for colonial trade. b. increased prices for colonial imports. c. a disproportionately large economic burden on Southern exports. d. an estimated total economic burden of less than 1 percent of colonial income. e. All of the above.
An increase in the price level will: a. make the consumption function flatter. b. make the consumption function steeper
c. increase consumption because wages will increase. d. decrease consumption because falling interest rates make it cheaper to borrow. e. decrease consumption because the value of net wealth will decrease.