If reserves are __________ because of a temporary __________ in the Treasury's balance at the Fed, open market __________ may be used to offset such influences
A) falling; decline; sales
B) rising; increase; sales
C) rising; decline; sales
D) rising; decline; purchases
C
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Assume you are working at a department store and you are told by the manager to cut prices by 20% for all the new women's sweaters that are currently priced at $50
What will be the new price of these sweaters? Suppose the manager tells you to raise the prices back up by 20%. What is the new price of the sweaters? Why is your answer not the same as the original price of the sweaters? What importance does this have for why the midpoint formula is used in calculating price elasticity?
A perfectly competitive firm's supply curve follows the upward-sloping segment of its marginal cost curve above the:
a. average total cost curve. b. average variable cost curve. c. average fixed curve. d. average price curve.
When market conditions in a price-taker market are such that firms cannot cover their production costs,
a. the firms will suffer long-run economic losses. b. the firms will suffer short-run economic losses that will be exactly offset by long-run economic profits. c. some firms will go out of business, causing prices to rise until the remaining firms can cover their production costs. d. all firms will go out of business, since consumers will not pay prices that enable firms to cover their production costs.
In the US, is it more likely that someone will become a millionaire by making money on his/her own or by inheriting a fortune?