At the competitive equilibrium quantity supplied equals quantity demanded in all markets
Indicate whether the statement is true or false
True . When the MRS = MRT = ratio of prices, the optimal product mix is produced efficiently and firms sell at marginal cost.
Economics
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Which of the following should be used to compare the incomes of countries with huge differences in cost of living?
A) Gross national product B) Exchange rate-based measure of income per capita C) Income per working age population D) PPP-based measure of income per capita
Economics
When the Fed buys government securities, the immediate effect of the purchase is that banks'
A) reserves decrease. B) loans decrease. C) reserves increase. D) assets increase. E) deposits increase.
Economics