The marginal private cost of a good or service is the cost borne by the producer
Indicate whether the statement is true or false
TRUE
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Refer to Resource Supply/Demand. The rent earned by the owner of the resource is measured by
The following questions refer to the accompanying graph, which shows the supply and demand for a resource. The owner of the resource is receiving the price P0 and is providing the quantity Q0.
a. area A + B + C.
b. area B + C + D.
c. area B + C.
d. area C + D.
Workers’ reluctance to take nominal pay cuts offers a feasible explanation of why the Phillips Curve relation breaks down when there is deflation.
a. true b. false
Which of the following describes a change that the Federal Reserve made in response to the financial crisis of 2007-2009?
A) The Fed extended the lender of last resort function to institutions other than banks. B) The Fed narrowed the scope of its open market operations, choosing to limit it to only buying Treasury securities from banks. C) The Fed discontinued its term auction facility (TAF) program. D) all of the above
Gracyn wants to invest in a specific company. She would like little risk and a guaranteed return. She is not hoping to earn a big profit off her investment, just a reliable return. Which investment would be best for her needs?
a. stocks b. bonds c. retained earnings d. mortgage-backed securities