Private ownership of nearly all of a nation's land, labor, capital, and entrepreneurial ability is common to

The process of money creation by the banking system is limited, in part, by the

A) Comptroller of the Currency. B) number of depositors. C) laws passed each year by the U.S. Congress. D) desired reserve ratio. E) number of banks.

Suppose the short-run production function is q = 10 ? L. If the wage rate is $10 per unit of labor, then AFC equals

A) 0. B) 1. C) 10/q. D) It cannot be determined from the information provided.