What is the total fixed cost in Figure 21.2?
A. $80.
B. $29,600.
C. $10,000.
D. $9,600.
Answer: D
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In November 2008, the Fed began its first round of quantitative easing. In total, the Fed conducted ________ rounds of quantitative easing before ending the program in October 2014
A) 2 B) 3 C) 4 D) 5
When a firm faces a perfectly competitive market and buys its inputs from perfectly competitive markets, the only choice the firm has to affect its profits is to:
A. increase its selling price. B. change the quantity it produces. C. decrease the selling price. D. decrease its cost of production lower than other firms.
Which is the most accurate statement?
A. Fringe and sub-prime lending should be outlawed. B. Poor people cannot get loans in the United States. C. Payday lenders like the Military Financial Network make low interest loans to our military personnel. D. When poor people get personal loans, they usually pay much higher interest rates than the average American.
The social cost of production equals
A. the external cost minus the private benefit. B. the external cost minus the external benefit. C. the private cost plus the external cost. D. the social cost plus the private cost.