For firms that sell one product in a perfectly competitive market, the market price is:
A. constant, regardless of quantity sold.
B. equal to average revenue for a firm.
C. equal to marginal revenue for a firm.
D. All of these are true.
D. All of these are true.
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In the economic way of thinking, bald eagles are a scarce good. Thus,
A) the bald eagle population can be maintained at no cost. B) the bald eagle population should be maintained at any cost. C) there are substitutes for bald eagles. D) there are no substitutes for bald eagles. E) economists don't like bald eagles.
Describe the main problem with rate of return regulation and name an alternative regulatory scheme that has been devised to deal with that problem
What will be an ideal response?
Banks will keep excess reserves when
A. they do not foresee profitable opportunities to make loans. B. business conditions generally are depressed. C. they do not foresee opportunities to make secure loans. D. All of these responses are correct.
If a coin is token money, its face value is greater than its intrinsic value.
Answer the following statement true (T) or false (F)