The economic return to oil resources is called:
a. Rent.
b. Wages.
c. Profits.
d. Interest.
e. None of the above.
.A
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For a perfectly competitive firm operating at the profit-maximizing output level in the short run,
a. MR = TR b. MC = price c. MC = ATC d. MC = AVC e. AFC = price
On a diagram of a production possibilities frontier, economic growth is represented by the slope of the production possibilities frontier
Indicate whether the statement is true or false
A bank's assets are
A) things the bank owes to someone else. B) things owned by or owed to the bank. C) a measure of the bank's net worth. D) always greater than the bank's liabilities.
Which of the following is most likely to cause the savings supply curve in the market for loanable funds to shift leftward?
A) Government borrows to finance a war. B) All firms project higher future revenue streams for all of their projects. C) All firms project lower future revenue streams for all of their projects. D) Government institutes a high tax on savings.