Refer to the diagram. The profit-maximizing level of output for this firm:
A. is at point a.
B. is at point b.
C. is at point c.
D. cannot be determined from the information given.
D. cannot be determined from the information given.
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The leading trading partner of the United States is
A) Canada. B) Japan. C) Germany. D) Mexico.
Macroeconomics is the study of
a. individual decision makers. b. international trade. c. economy-wide phenomena. d. markets for large products.
If people decide to hold less money, then
a. money demand decreases, there is an excess supply of money, and interest rates rise. b. money demand decreases, there is an excess supply of money, and interest rates fall. c. money demand increases, there is an excess demand for money, and interest rates fall. d. money demand increases, there is an excess demand for money, and interest rates rise.
In which part of the business cycle is the Federal Reserve most likely to increase the discount rate to discourage banks from borrowing?
A) trough B) expansion C) peak D) recession E) depression