Perfectly competitive firms are sometimes called price makers because they have significant control over product price
a. True
b. False
B
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Which of the following would be a private cost to a cigarette smoker?
a. Cost to the employer of the higher health insurance premiums due to the hiring of a smoker. b. Cost to the employer of the extra effort lost due to the increased missed days of work as a result of smoking. c. Cost to the city of extra park cleanup due to the presence of cigarette butts. d. Price of the pack of cigarettes. e. Cost to the government to pay the hospital expenses of indigent smokers.
The money multiplier is _____ when the reserve ratio is 12.5 percent
Fill in the blank(s) with correct word
A month ago, you bought a one-year bond with a value of $100 that pays a fixed interest rate of 5 percent per year. The interest rate of the economy was also 5 percent. Today you read in the newspaper that the interest rate in the economy decreased to 3 percent. You are holding a bond that is:
A. more desirable to other investors. B. not desirable at all. C. desirable to you. D. less desirable to other investors.
In the above figure, the average variable cost curve is curve
A) A. B) B. C) C. D) D.