Which of the following is an example of a fixed cost for a fishing company?
a. The cost of hiring a fishing crew.
b. The monthly loan payment on the boat.
c. The supply of nets, hooks, and fishing lines.
d. The fuel costs of running the boat.
b
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Under the cartel model, each firm produces where
a. marginal cost equals marginal revenue. b. price equals marginal cost. c. the average cost curve is at a minimum. d. price exceeds marginal cost by the greatest amount.
If people did not deposit their money in banks, banks would
a. not be affected because banks do not rely on deposits to make loans b. have unused excess reserves that earn them no interest c. be able to expand the money supply by more than the money multiplier indicates d. disappear because they would have no deposits and could make no loans e. not be able to find new borrowers thus restricting their banking activity
The purchase of U.S. government bonds by Egyptians is an example of
a. U.S. imports. b. U.S. exports. c. foreign portfolio investment by Egyptians. d. foreign direct investment by Egyptians.
In the United States, the federal minimum wage is legislated in nominal terms. This means that
A. the federal minimum wage historically decreases in value during stretches when the minimum wage is not increased. B. unemployed workers collect government assistance equal to the minimum wage. C. employers do not have to pay payroll taxes on wages paid to minimum wage workers. D. the government pays the minimum wage to all local, state, and federal workers. E. the federal minimum wage is indexed for inflation.