Banks act as:
A. an organizer among firms in a specific market.
B. a negotiator for buyers.
C. intermediaries between borrowers and savers.
D. informants to various buyers about prices and contracts.
Answer: C
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If the Federal Reserve simultaneously sells government bonds in the open market and raises reserve requirements, the
a. money supply will increase. b. money supply will decrease. c. money supply will stay the same. d. two tools will work against one another and the net effect on the money supply is uncertain.
To be able to engage in profit-maximizing price searching, a monopoly firm must be able to
A) prevent the entry of other firms into the market for its product. B) induce the entry of other firms into the market for its product. C) avoid earning negative economic profits in the short run. D) always earn zero economic profits.
An industry which has a 4-firm concentration ratio near 0 would best be described as
A. oligopoly. B. monopoly. C. perfect competition. D. monopolistic competition.
Economists assume that late in the process of cleaning a dirty environment, there are relatively
A. low benefit-high cost things than could and should be saved for last. B. low benefit-low cost things than could and should be saved for last. C. high benefit-low cost things than could and should be saved for last. D. high benefit-high cost things than could and should be saved for last.