For most industries, average costs decrease indefinitely as output expands

Major League Baseball teams are similar to other firms in that they use factors of production to produce a product (baseball games). An example of capital used by teams to produce their products is

A) the ballparks where the games are played. B) the labor of baseball players. C) the money teams earn from television contracts and ticket sales. D) the land on which baseball games are played.

Of the three players in the money supply process, most observers agree that the most important player is

A) the United States Treasury. B) the Federal Reserve System. C) the FDIC. D) the Office of Thrift Supervision.