If a firm finds itself at an output level where MR < MC, then the firm
A. should shut down, since it is losing money.
B. should decrease output.
C. should increase output.
D. should raise the price of its product.
Answer: B
Economics
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In Ugoland, the money supply is $8 million and reserves are $1 million. Assuming that people hold only deposits and no currency, and that banks hold no excess reserves, then the reserve requirement is
a. 14 percent. b. 12.5 percent. c. 8 percent. d. None of the above is correct.
Economics
In 2011, the top 1 percent of all taxpayers in the United States paid what percent of the federal income tax?
A. 20 percent B. 23.4 percent C. 35 percent D. 29 percent
Economics