A key distinction between microeconomics and macroeconomics is the use of monetary policy. Monetary policy is conducted by:
a. local banks.
b. a nation’s central bank.
c. a nation’s legislative body.
d. a state’s legislative body.
b. a nation’s central bank.
You might also like to view...
Universities tend to set tuition high and then, through financial aid, effectively charge each student a different price for education. Financial aid statements allow the university to determine the student's financial status and set an appropriate price to charge the student. This situation is an example of
a. first-degree price discrimination. b. second-degree price discrimination. c. third-degree price discrimination. d. a two-part tariff.
___________ are repetitive, often unconscious, patterns of behavior
a. Goals b. Values c. Habits d. Attitudes
If the first copy cost of a music video is $223,000 and the marginal cost is $0, how much total cost would the firm incur if it produces 1 million copies?
A. zero B. $223,000 C. $1 million D. $1 million + $223,000
Suppose Heidi's Ice Cream experiences economies of scale up to a certain point and diseconomies of scale beyond that point. Its long-run average cost curve is most likely to be
A. U-shaped. B. downward sloping to the right. C. upward sloping to the right. D. horizontal.