Other things being equal, if energy prices rise in a country, then there would be
A. demand-pull inflation.
B. more production and a lower price level.
C. cost-push deflation.
D. cost-push inflation.
Answer: D
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Some popular reality television programs follow people who buy the contents of abandoned storage lockers at public auctions. In most cases, several storeage lockers are sold in sequence during a particular auction
Occassionally, one of the buyers will purposefully bid much more than the expected value of a particular storage locker in order to intimidate the other bidders. What is a plausible explanation for these excessive bids? A) The buyer is trying to establish a reputation that may affect the outcome of later auctions. B) The excessive bids may be rational if they occur during the last auction of the day. C) The bidder is trying to establish a first-mover advantage, but only if they occur during the first auction of the day. D) The excessive bids represent a form of tacit collusion among the buyers.
The short-run aggregate supply curve is: a. upward-sloping
b. downward-sloping. c. horizontal. d. vertical.
In which of the following ways is a monopolistically competitive firm like a perfectly competitive firm?
A. Short-run economic profits are always positive. B. Short-run economic profits may be positive, negative, or zero. C. Long-run economic profits are negative. D. Long-run economic profits are positive.
Which statement is true?
A. The Federal Reserve buys nearly all its United States government securities directly from the Treasury. B. Open market operations are the buying and selling of United States government securities in the open market by the Federal Reserve. C. The least important policy tool used by the Federal Reserve to control the money supply is open market operations. D. None of the choices/statements are true.