Which of the following is not an activity of the Fed?
a. Making loans to the public
b. Clearing banks' checks
c. Lending funds to the Federal government
d. Purchasing U.S. government securities
e. Holding deposits of the U.S. Treasury
a
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Suppose when the price of a can of tuna is $1.30, the quantity demanded is 9, and when the price is $1.50, the quantity demanded is 7. Using the mid-point method, the price elasticity of demand is:
A. –1.75 B. –0.57 C. 0.57 D. 29 percent
Which of the following is true of inflation?
a. It is an increase in the general price level of goods and services. b. The purchasing power of money increases as the result of inflation. c. Inflation is similar to interest payments on future money income, such as pensions and receipts from outstanding loans. d. Inflation has no effect on real resources.
The conclusion that firms in oligopoly always produce where price exceeds marginal cost is true for all models of oligopoly except the
A. price-leadership model. B. collusive oligopoly model. C. Cournot model. D. contestable market model.
Which of the following will result in the most deadweight loss?
A) a natural monopoly regulated with marginal cost pricing B) an unregulated natural monopoly C) a natural monopoly regulated with average cost pricing D) All of the above result in the same deadweight loss.