Suppose you are going on a long trip to your grandmother's home in seattle, 3 comma 0003,000 miles away. you have decided to drive your old ford out there, which gets approximately 1818 miles to the gallon when cruising at 7070 mph. because grandma is an excellent cook and you can stay and eat at her place as long as you want (for free), you want to get to seattle as economically as possible. however, you are worried about your fuel consumption rate at high speeds. you also have to balance cost of food, snacks, and sleep to balance against the cost of fuel. what is the optimum average speed you should use so as to minimize your total trip cost, upper c subscript upper tct?

When the federal reserve buys and sells bonds to member banks, it is called a. monetary policy b. reserve ratio c. interest rate adjustment d. open market operations

Why has the free enterprise system been modified to include some government intervention?

6. why the aggregate supply curve slopes upward in the short run in the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. several theories explain how this might happen. for example, the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. consider a soybean farmer who expects a price level of 100 in the coming year. if the actual price level turns out to be 90, soybean prices will , and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by the quantity of soybeans supplied. if other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to the natural level of output in the short run.