The duties of the Council of Economic Advisers are to advise the president of the United States and to determine U.S. monetary policy
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Figure 3-4. If the price is $25,
A) there is a surplus of 300 units. B) there is a shortage of 200 units. C) there is a shortage of 300 units. D) there is a surplus of 200 units.
A leading indicator:
a. changes in either direction before a recession starts. b. usually declines before a recession starts. c. generally changes after real GDP changes. d. remains unaffected by changes in real GDP. e. does not change with business cycles.
A monopolist earning short-run economic profit determines that at its present level of output, marginal revenue is $23 and marginal cost is $30 . Which of the following should the firm do to increase profit?
a. Raise price and lower output. b. Lower price and lower output. c. Raise price and raise output. d. Lower price and raise output. e. Lower output but leave price unchanged.
Microsoft is accused of which anticompetitive practice?
A. Interlocking directorates B. Illegal “bundling” of products C. Exclusive contracts D. Predatory pricing