A Federal Reserve Bank is located in which of the following cities?
A) Detroit
B) Baltimore
C) Minneapolis
D) Seattle
E) Cincinnati
C
You might also like to view...
For a fixed proportion production function, at the vertex of any of the (L-shaped) isoquants the marginal productivity of either input is:
a. constant. b. zero. c. negative. d. a value that cannot be determined.
Justina operates in a perfectly competitive market. Which of the following is her short-run supply curve?
a. the MC curve above its point of intersection with the ATC curve b. the market supply curve c. the MC curve above its point of intersection with the AVC curve d. the market demand curve e. its MC curve
Which of the following is true of a constant-cost production-possibility curve?
A. Along a constant-cost production-possibilities curve, the opportunity cost of producing more of a good is constant. B. A constant-cost production-possibilities curve is drawn as a positively sloped straight line. C. When a country engages in free trade, the constant-cost production-possibility curve shifts to the right. D. A country with a constant-cost production-possibility curve partially specializes in the production of goods when it engages in free trade with other nations.
During the production process Ajax Corporation releases pollution into the air. Ajax Corporation operates in a monopolistic competitive industry. Which of the following statements addresses the pollution situation?
A. This is an example of a market failure and is a reason for the government to regulate the industry. B. This is known as the lemons problem. C. Ajax is taking advantage of asymmetric information. D. The quality of the product could be improved if the amount of pollution can be reduced.