Which type of cost does not depend on a firm's output?
A. fixed cost
B. total cost
C. variable cost
D. marginal cost
Answer: A
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Secured and enforced individual property rights provide individuals with incentive to allocate resources efficiently and effectively, advance technologically, take on strategic risks and trade domestically and internationally
Indicate whether the statement is true or false
The term "________" denotes the adaptation of new technological ideas to existing products and services
a. invention b. merger c. innovation d. economies of scale
Suppose Jordan and Lee are trying to decide what to do on a Friday. Jordan would prefer to see a comedy while Lee would prefer to see a documentary. One documentary and one comedy are showing at the local cinema. The payoffs they receive from seeing the films either together or separately are shown in the payoff matrix below. Both Jordan and Lee know the information contained in the payoff matrix. They purchase their tickets simultaneously, ignorant of the other's choice. 
This game:
A. is not a prisoner's dilemma. B. has no Nash equilibrium. C. is a prisoner's dilemma. D. is an ultimatum bargaining game.
Suppose that the reserve ratio is 5%. What is the value of the potential money multiplier?
A) 2 B) 5 C) 10 D) 20