Which of the following is true about the U.S. economy?
A. It had greater economic problems than other Western countries in the 1990s.
B. It still experiences periods of inflation and unemployment.
C. It has experienced 30 years of outright recession in the last 50 years.
D. It has been able to do away with the business cycle.
Answer: B
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Prior to the Civil War (1861–1865) American capitalism was free from government influence and controls. The government only served as the protector of private property rights and the provider of national defense
Indicate whether the statement is true or false
The ratio of the total amount of demand deposits at a bank to the amount kept as cash reserves is known as the:
A. reserve ratio. B. demand deposit ratio. C. demand-reserve ratio. D. federal funds rate.
A new car in the dealer's showroom had a sticker price of $35,900. Sally liked the car but decided she would pay no more than $32,000 for it, otherwise she would do without it. After haggling with the dealer, she purchased the car for $31,500
Did she gain any consumers surplus? If so, how much? If not, why not?
Refer to Scenario 3. The average variable cost of producing three units of output is:
A) $15. B) $25. C) $41.67 (approximate). D) $75.