The demand curve for a monopoly firm
A) is perfectly inelastic.
B) lies below its marginal revenue curve.
C) is the same as the market demand curve.
D) is horizontal.
Answer: C
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Comparing M1 and M2 we know that
A) M1 is larger because it contains currency. B) M2 is approximately equal to M1. C) M2 is larger because it contains M1 and other assets. D) M2 is larger because it contains more liquid assets than does M1.
The primary criticism by Keynesians of the credibility argument for rules is that
A) reputations are a less costly method of gaining credibility. B) reputations are a less costly method of maintaining credibility. C) the cost of losing flexibility over policy choices may exceed the cost of gaining credibility. D) rules that reduce presidential and congressional influence over monetary policy could ultimately be harmful to the economy.
Unemployment that is of a short duration to allow time to find a new job is:
a. structural unemployment. b. cyclical unemployment. c. frictional unemployment. d. durational unemployment.
If real GDP in a year was $3,668 billion and the price index was 112, then nominal GDP in that year was approximately:
A. $3,846 billion B. $3,925 billion C. $4,108 billion D. $4,379 billion