In a monopolistically competitive market there are
A) many firms.
B) one firm.
C) a very small number of firms.
D) two firms.
A
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Refer to Table 2-10. What is Fred's opportunity cost of making a pogo stick?
A) 6/7 of a pogo stick B) 1/2 of a unicycle C) 1/3 of a unicycle D) 3 unicycles
Suppose that the Treasury decides to spend $12 billion on a given day
Because about $12 billion in new tax revenues are expected to replenish the Treasury's account at the Fed a week later, the best policy for the Fed to pursue if it wishes to stabilize reserves is to A) do a $12 billion government security repurchase agreement. B) do a $12 billion government security reverse repurchase agreement. C) buy $12 billion in government securities outright and hold them to prevent bank reserves from falling. D) sell $12 billion in government securities to prevent bank reserves from rising.
The expected effect of the Bush tax cuts would be a(n)
a. lower real interest rate. b. exchange rate depreciation. c. increased current account deficit. d. All of the above are correct.
The graph for a monopolist’s profit shows that PM ? ATC (price minus average total cost) gives the per-unit profit, which is ______.
a. $2
b. $3
c. $4
d. $6