In a commercial bank's T-account, reserves and outstanding loans are recorded as:

In contrast to a perfectly competitive firm, a monopolist earns:

a. negative economic profit in the long run. b. zero economic profit in the long run. c. positive economic profit in the long run. d. positive economic profit in the short run.

Economists use the word investment to refer to the portion of income that is:

A. spent on productive inputs, such as factories, machinery, and inventories. B. not immediately spent on consumption of goods and services. C. placed in an individual's savings account. D. in any interest-bearing account.