If the Fed is concerned about a possible recession, it ________ the federal funds rate, which ________ the quantity of money and ________ the amount of bank loans
A) raises; decreases; decreases
B) lowers; decreases; decreases
C) lowers; increases; decreases
D) raises; increases; increases
E) lowers; increases; increases
E
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
Compared to a perfectly competitive market, a single-price monopoly sets
A) a lower price. B) the same price. C) a higher price. D) a price that might be higher, lower, or the same depending on whether the monopoly's marginal revenue curve lies above, below, or on its demand curve. E) a price that might be higher, lower, or the same depending on whether the monopoly's marginal cost curve lies above, below, or on its marginal revenue curve.
Donna owns the only dog grooming salon on Lonely Island. The figure above shows the dog grooming market. Donna is a single-price monopoly that maximizes profit by charging ________ per grooming and producing ________ groomings per day
A) $30; 8 B) $20; $8 C) $20; $12 D) None of the above answers is correct.
The term which means whatever must be given up to obtain an item is
What will be an ideal response?