In the long run, fixed costs are
A) sunk.
B) avoidable.
C) larger than in the short run.
D) not included in production decisions.
B
Economics
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The town of Saddle Peak has a fixed supply of mountain view lots. In this case, the price per square foot of mountain view lots is
A) determined only by demand. B) negotiated by environmental groups and property developers. C) determined only by supply. D) set by government officials of Saddle Peak.
Economics
Refer to the data. The commercial banking system has excess reserves of:
Answer the question on the basis of the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 10 percent. All figures are in billions.
A. $0 billion.
B. $30 billion.
C. $60 billion.
D. $70 billion.
Economics