The interest rate that a commercial bank pays when it borrows from the Fed is the __________ rate
A) discount
B) exchange
C) federal
D) bank
A
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An increase in the demand for orthodontic services leads to
A) an increase in the supply of orthodontists. B) a rise in the rates of dental insurance. C) lower prices for orthodontic care. D) an increase in the demand for orthodontists.
Firms can have a high degree of monopoly power and not be a perfect monopoly if they:
A. are the single producer of a product. B. control 80 to 90 percent of the market. C. have only a small number of competitors. D. intimidate the other businesses in the market.
One reason many people make their own pickles rather than buy them is that
a. they can maintain control over the quality during production b. the total cost of ingredients is the same as the price of store-bought pickles c. firms do not make high-quality pickles d. people place a high value on their time e. firms do not produce goods that can be made at home
In the short run a manufacturing firm's production equipment is a sunk cost.
Answer the following statement true (T) or false (F)