With perfect price discrimination, the level of output
A) exceeds the efficient quantity.
B) is the same as the amount produced by any monopoly that price discriminates.
C) is the same as the amount produced in a perfectly competitive market.
D) equals the amount produced by a single-price monopoly.
E) is unknown.
C
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An increase in the money supply, all else held constant, usually ________.
A. increases the interest rate and increases aggregate demand B. decreases the interest rate and increases aggregate demand C. increases the interest rate and decreases aggregate demand D. decreases the interest rate and decreases aggregate demand
Which of the following approaches should the Fed use if it experiences large lags and mistakes in monetary policy?
A. Discretionary policy B. An eclectic approach C.Fixed rules D. Fiscal policy
A consumer has maximized his or her utility by consuming
A) at the midpoint of the budget constraint line. B) at the midpoint of the demand curve. C) so that the total utility of all goods consumed is the same. D) so that the ratio of marginal utility to price is the same for all goods consumed.
Prior to 1863, all commercial banks in the United States
A) were chartered by the U.S. Treasury Department. B) were chartered by the banking commission of the state in which they operated. C) were regulated by the Federal Reserve. D) were regulated by the central bank.