High-powered money consists of
A) bank reserves plus currency held by the nonbank public.
B) bank reserves minus vault cash.
C) all deposits at the Fed.
D) deposits at the Fed plus vault cash.
A
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Government policy that decreases the value of its currency _________
a. is called devaluation b. is called an import control c. appreciates the exchange rate d. is helpful to importers e. is harmful to exporters
When firms already in the industry produce under conditions of substantial economies of scale, entry into the industry is usually more difficult than if the firms produced without those economies of scale
Indicate whether the statement is true or false
Seven of the 50 states account for approximately half of all union members in the United States.
a. true b. false
The most important challenge facing a firm in a perfectly competitive market is deciding:
A. what price to charge. B. whether to advertise. C. whether to maximize its profits. D. how much to produce.