A usury rate is like a price ceiling
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose an oligopoly consists of two firms. Firm A lowers price and Firm B responds by lowering its price by the same amount. If average costs and industry output remain the same, which of the following will occur?
A) The profits of the two firms will increase. B) The profits of the two firms will decrease. C) The profits of the two firms will remain the same. D) Barriers to entry will come tumbling down and new firms will enter.
If Angelo's Pizza Restaurant has a constant marginal cost of $50 for each additional table in the restaurant and a constant marginal cost of $12 for operating each additional table, what is Angelo's long-run marginal cost per table?
A) $38 B) $62 C) $12 D) $50
When the marginal productivity of labor decreases, the demand curve for labor in a perfectly competitive market
A) does not change. B) becomes flatter. C) shifts to the right. D) shifts to the left.
Which one of the following is a monetary policy instrument used by the European Central Bank (ECB)?
(a) Open Market Operations; (b) Interest rates; (c) Reserve Ratios; (d) All of the above.