Which of the following are included in interest income? i. payments made for the use of land ii. income paid to households for loans they make iii. payments made by households for their borrowing
A) i, ii and iii
B) ii and iii only
C) i and ii only
D) ii only
E) iii only
B
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Asset prices in an economy are likely to fall if ________
A) firms' revenues rise B) labor supply falls C) labor demand increases D) investment falls
Refer to Figure 13-15 to answer the following questions
a. What is the profit-maximizing output level? b. What is the profit-maximizing price? c. What is the average total cost at the profit-maximizing output level? d. What area represents the firm's profit? e. At which output level are economies of scale exhausted? f. Does this graph most likely represent the long run or the short run? Why?
A federally subsidized, state-administered program that pays for the medical and hospital costs of welfare recipients and other low-income people is known as
a. Medicare b. Medicaid c. Social Security d. AFDC e. medical philanthropy
The Federal Reserve System performs many functions but its most important one is:
A. Issuing currency B. Controlling the money supply C. Providing for check clearing and collection D. Acting as fiscal agent for the U.S. government