The following graph shows average fixed costs, average variable costs, average total costs, and marginal costs of production.Marginal cost is minimized when output equals:

For the federal government, what is the difference between discretionary spending and mandatory spending? What categories of spending account for the largest amount of the federal government's discretionary spending and mandatory spending?

What will be an ideal response?

Suppose the federal funds rate is 5 percent. If the Fed decides to increase the target for the federal funds rate from 5 percent to 6 percent, it could take:

A. an offensive action and reduce reserve requirements. B. an offensive action and raise reserve requirements. C. a defensive action and raise reserve requirements. D. a defensive action and reduce reserve requirements.