The mean (average) U.S. family income in 2012 was approximately
A) $15,000.
B) $71,000.
C) $51,000.
D) $100,000.
B
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When the Federal Reserve lends reserves to commercial banks, this is an example of:
A. discount window lending. B. an open-market sale. C. a change in reserve requirements. D. an open-market purchase.
If Pastry Paradise takes over Sweet Tooth, at what level of production would it be indifferent between which technology is used
a. 500 b. 750 c. 250 d. 125
Which of the following statements is NOT true regarding DeBeers' rise to monopoly power in the diamond market?
a. DeBeers produces about 40 percent of the world's raw diamonds and controls another 30 percent. b. DeBeers achieved dominance in this market by gaining control of South Africa's Kimberley "pipe," the world's largest source in the late nineteenth century. c. DeBeers carefully limited the amount of diamonds it released into the market. d. DeBeers did not worry about diamonds being discovered elsewhere because it already had full control of the industry in South Africa.
If market demand increases and market supply decreases, the change in equilibrium price is unpredictable without first knowing the exact magnitudes of the demand and supply changes.
Answer the following statement true (T) or false (F)