The equilibrium price is about
A. $13.50.
B. $13.80.
C. $14.00.
D. $14.20.
B. $13.80.
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The Federal Open Market Committee consists of the seven members of the ________, the president of the Federal Reserve Bank of New York, and ________
A) Council of Economic Advisors; four members of the U.S. Banking Committee B) Council of Economic Advisors; four presidents from the 11 Federal Reserve banks C) Federal Reserve's Board of Governors; four presidents from the other 11 Federal Reserve banks D) Federal Reserve's Board of Governors; four members of the Council of Economic Advisors
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.
Considering the information in the table shown, if we assume Jack is a rational utility maximizer, then we can predict he will buy which bundle with his $10?
A. A
B. B
C. C
D. D
If a monopolist is producing a rate of output at which market demand is inelastic,
a. it may or may not be maximizing its short-run profit b. reducing output would reduce both total revenue and total cost c. reducing output would increase both total revenue and total cost d. reducing output would increase total revenue and reduce total cost e. increasing output will increase its short-run economic profit
A quota typically increases the volume of imports, whereas a tariff typically decreases the volume of imports
a. True b. False