In the short run, a profit-maximizing firm's decision to produce should be guided by whether
A) it makes a profit.
B) its marginal profit is maximized.
C) its total revenue exceeds its fixed cost.
D) its total revenue covers its variable cost.
Answer: D
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Which government body is primarily responsible for regulating banks and ensuring the health of the banking system?
a. The U.S. Treasury b. Federal Deposit Insurance Corporation c. The Federal Reserve Board d. The regional Federal Reserve Banks
A homeowner has run into some financial difficulty and has not been able to pay property taxes or income taxes. If liens resulted in a foreclosure sale, which of the following is the correct order for payment of the liens?
a. The city would be paid first. The IRS would be paid after the city, provided the sale produced enough funds b. All liens will be added together and each lien holder would receive their prorated share c. The IRS would be paid first. The county would be paid next. d. The order of these two liens would depend solely upon the order in which they were filed.