For a profit-maximizing monopolist, the price of a product is:
a. always equal to marginal revenue
b. always greater than marginal revenue.
c. always less than marginal revenue.
d. always equal to the average total cost of production.
b
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If there is a change in the federal funds rate from a target rate due to an increase in the demand for reserves, the Fed can maintain the target by:
A) causing an upward movement along the supply of reserves curve. B) causing the supply curve of reserves to shift to the left. C) causing a downward movement along the supply of reserves curve. D) causing the supply curve of reserves to shift to the right.
For the following countries, specify whether hospitals are privately owned or owned by government, and whether doctors are privately employed or employed by government:
a. Canada b. Japan c. the United Kingdom d. the United States
The above figure shows the U.S. market for replacement cell phone batteries. With free international trade, the United States
A) exports 300,000 batteries. B) imports 500,000 batteries. C) imports 400,000 batteries. D) exports 700,000 batteries. E) imports 800,000 batteries.
If the Fed wishes to increase the money supply it can
A) increase reserve requirements. B) sell securities to banks and/or the public. C) increase the rediscount rate. D) None of the above is correct.