Bank holding companies that rival money center banks in size, but are not located in money center cities are
A) superregional banks.
B) bank clearing houses.
C) international banks.
D) local banks.
A
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When government spending is completely crowded out, the economy must have
A) perfect capital mobility. B) floating exchange rates. C) both A and B. D) broken the rules. Government spending cannot be completely crowded out.
Which of these changes is observed in an economy when a recessionary gap is closed in the long run?
a. An increase in the inflation rate and a decrease in the unemployment rate b. An increase in the level of output and a decrease in the price level c. An increase in both the rate of output and the price level d. A decrease in both the rate of output and the price level e. A decrease in the inflation rate and an increase in the unemployment rate
If the Fed wants to move the economy up and to the left along the Phillips curve, what must it do?
a. Increase the rate at which the aggregate supply curve shifts upward b. Decrease the rate at which the aggregate demand curve shifts rightward c. Increase the rate at which the aggregate demand curve shifts rightward d. Increase the rate at which the aggregate demand curve shifts leftward e. Decrease the rate at which the aggregate supply curve shifts upward
The market demand for a monopoly firm is estimated to be:Qd = 100,000 - 500P + 2M + 500PRwhere Qd is quantity demanded, P is price, M is income, and PR is the price of a related good. The manager has forecasted the values of M and PR will be $50,000 and $20, respectively, in 2016. The average variable cost function is estimated to beAVC = 520 - 0.03Q + 0.000001Q2Total fixed cost in 2016 is expected to be $4 million. The profit-maximizing level of output for 2016 is
A. 1,000 units. B. 4,000 units. C. 5,000 units. D. 10,000 units. E. 20,000 units.