Which of the following is the best way to describe equilibrium in a market? At equilibrium, the
A) price is the lowest possible.
B) price is usually affordable to most people.
C) supply and demand curves can never shift again.
D) quantity supplied equals the quantity demanded.
D
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Which of the following is true? a. Average cost pricing reduces the incentives for a monopolist to find ways to reduce its costs
b. With natural monopoly, if regulators allow the firm to earn profits, there will be a welfare cost from producing too little of the good. c. Government regulation of monopolies aims to achieve the efficiency of large-scale production, without permitting the producers to charge monopoly prices. d. All of the above are true.
If the money multiplier is approximated to be 2, then the reserve ratio must be:
A. 50 percent. B. 5 percent. C. 2 percent. D. 20 percent.
If the inflation rate is 5% and the nominal interest rate is 4%, then the real interest rate is around
A. 1%. B. 9%. C. 20%. D. -1%.