When the prices of rare coins become volatile, the ________ curve for bonds shifts to the ________, everything else held constant
A) demand; right
B) demand; left
C) supply; right
D) supply; left
A
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Which of the following is incorrect?
A. As the American average price level rises, American goods become relatively more expensive so that our exports fall and our imports rise. B. As the average price level falls, the interest rate declines, and interest-rate sensitive spending increases. C. When the average price level increases, real balances increase, businesses and households find themselves wealthier and therefore increase their spending. D. An increase in aggregate supply tends to increase real domestic output and reduce the average price level.
Figure 8.12 shows a demand and costs of an unregulated monopoly. At the output level of 22,000 units:
A. the firm's marginal revenue is smaller than its marginal cost. B. the firm is earning a zero economic profit. C. the firm is producing more than its profit-maximizing level of output. D. All of these are correct.
The government agency that insures deposits held in banks in the United States is
A) the Federal Bank Insurance Corporation. B) the Federal Deposit Insurance Corporation. C) the Federal Asset Insurance Corporation. D) the Federal Reserve System.
An example of a perfectly competitive industry is
A) a big city police department. B) the market for corn in the United States. C) the market for French impressionists' paintings. D) the National Football League.