When applying the marginal principle, you should pick the level at which the activity's marginal benefit is less than its marginal cost.
Answer the following statement true (T) or false (F)
False
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The gross estate is
A. very disgusting. B. all property owned by decedent at time of death. C. general property that is held in a trust. D. being phased out of current tax law.
Assume a bank has total deposits of $100,000 and $20,000 is set aside to meet reserve requirements of the Fed. Its required reserve ratio is:
a. $20,000 b. 20 percent. c. 0.2 percent. d. 1 percent.
Who participates in markets?
A. Business firms and consumers. B. Business firms. C. Consumers and government agencies. D. All of the choices are correct.
What will tend to happen to wages if workers and employers foresee inflation?
A. Both parties will seek to reduce nominal wages, and therefore keep real wages the same. B. Nominal wages will remain constant, but real wages will increase to avoid the effects of inflation. C. Inflation erodes purchasing power of workers, and real wages are unchanged. D. Nominal wages will increase by an amount that keeps real wages constant.