Variable costs are
a. costs that vary with output
b. equal marginal costs
c. not considered in decision-making
d. equal to total costs
a
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Refer to Figure 10.1. If Daisy contributes to the lighting, Bo should
A) contribute if Luke contributes. B) not contribute only if Luke does not contribute. C) not contribute regardless of what Luke decides to do. D) contribute if Luke does not contribute.
In setting reserve requirements, the Fed divides deposits into which of the following two broad categories?
a. NOW accounts and ATS accounts b. savings accounts and non personal time accounts c. transaction accounts and non personal time accounts d. check able deposits and transaction accounts
Imagine a 2,000-acre park with picnic benches, trees, and a pond. Suppose it is publicly owned, and people are invited to enjoy its beauty. When the weather is nice, it is difficult to find parking, and the trash cans overflow with food wrappers on summer afternoons. Otherwise, it is a great place. The park is a common resource because
a. people can be prevented from using it. b. access is limited due to driving distances. c. if too many people use it, one person's use diminishes other peoples' use. d. anyone can use it without affecting anyone else.
If monetary policy is used to set the market equilibrium value of the exchange rate equal to the official value, it is no longer available to:
A. increase the market equilibrium value of an overloaded currency. B. decrease the market equilibrium value of an overvalued currency. C. stabilize the domestic economy. D. stabilize the market equilibrium value of the exchange rate.