Property taxes are the main source of funding for public schools
a. True
b. False
Indicate whether the statement is true or false
True
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What is one significant characteristic of fractional reserve banking?
A. Bank loans will be equal to the amount of gold on deposit. B. Banks hold a fraction of their loans in reserve. C. Banks can create money through lending their reserves. D. Banks use deposit insurance for loans to customers.
The average-fixed-cost curve
a. is constant. b. is always decreasing. c. intersects marginal cost at the minimum of average fixed cost. d. intersects marginal cost at the minimum of marginal cost.
Economic analysis on empowerment has shown that most firms have
A. used benchmarking to arrive at erroneous conclusions. B. failed to delegate decision-making rights to lower-level employees. C. failed to use corporate culture to enhance communication and build employee expectations. D. increased profits by delegating decision-making rights to lower-level employees.
Suppose a firm has the following total cost function TC = 100 + 2q2. If price equals $20, what is the firm's output decision? What are its short-run profits?
What will be an ideal response?