Price elasticities of supply are always:
A. the same as price elasticities of demand.
B. negative numbers.
C. positive numbers.
D. greater than one.
Answer: C
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The difference between a tariff and a quota is that the revenue from the tariff goes to the
A) domestic consumer. B) domestic producer. C) domestic government. D) foreign producers. E) foreign government.
If the required reserve ratio is one-third, currency in circulation is $300 billion, and checkable deposits are $900 billion, then the currency-deposit ratio is
A) 0.25. B) 0.33. C) 0.67. D) 0.375.
We can measure the profits earned by a firm in a competitive industry as
a. (P - ATC) × Q.
b. (P - MC) × Q.
c. MR × MC.
d. (MC - ATC) × Q.
The interest rate the Federal Reserve charges when lending reserves to depository institutions is known as the ________
Fill in the blank(s) with correct word