From the Civil War up to 1914, the United States adhered to a
A) gold standard.
B) silver standard.
C) bimetallic standard.
D) bronze standard.
E) copper standard.
A
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Which of the following is not a fungible commodity?
A. Electricity B. Silver C. Oil paintings D. All of these are fungible commodities.
____ is the subjective measure of the physical and mental satisfaction that is anticipated from consumption
a. Demand b. Supply c. Recognition d. Utility e. Cognition
The following graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for labor is $2,800. Fixed cost is $160,000.
When the firm uses 40 units of labor, what is AVC at this level of output?
A. $40 B. $86 C. $400 D. $120 E. $70
In the long run the real interest rate is determined by ________, and in the short-run the Federal Reserve can control the real interest rate by setting the nominal interest rate if inflation adjusts ________.
A. the Federal Reserve; slowly B. the Federal Reserve; to equal the increase in the money supply C. saving and investment; slowly D. saving and investment; quickly