If the Fed wants to decrease the money supply, it can __________ the required reserve ratio, conduct an open market __________, or __________ the discount rate
A) raise; purchase; lower
B) lower; purchase; lower
C) raise; sale; raise
D) lower; sale; lower
E) none of the above
C
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Bob plans to spend $60 per month on DVD movie rentals and CDs. The price of a movie rental is $3 and the price of a CD is $15. If Bob rents 5 DVDs per month, how many CDs can he buy?
A) 1 B) 2 C) 3 D) 4
Juanita goes to the Hardware Emporium to buy a new circular saw. She is willing to pay $120 for a new saw, but buys one on sale for $85. Juanita's consumer surplus from the purchase is
A) $35. B) $85. C) $120. D) $205.
Which of the following is a similarity between an oligopoly and monopolistic competition? a. Both markets are characterized by mutually interdependent decision making. b. Both markets produce homogeneous products
c. Both markets are controlled by many dominant firms. d. Both markets have firms that compete for market share.
(Figure: Labor Market) Refer to the figure. What is the unemployment rate in this market as a result of the implementation of a $10 minimum wage?
What will be an ideal response?