The demand curve for a monopolist is:
A. perfectly elastic.
B. perfectly inelastic.
C. not relevant since the monopolist sets price.
D. the market demand curve.
Answer: D
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If the price of tables sold by All-Oak Table Co. increases from $400 to $500, then the:
A. demand for labor by All-Oak Table Co. decreases. B. demand for labor by All-Oak Table Co. increases. C. supply of labor to All-Oak Table Co. increases. D. supply of labor to All-Oak Table Co. decreases.
Three policy lags limit the effectiveness of monetary policy: recognition lags, implementation lags, and impact lags. Of these three policy lags, fiscal policy is impacted by
A) only implementation and impact lags. B) only recognition and implementation lags. C) only recognition and impact lags. D) all three policy lags.
If an increase of $10 million in excess reserves increases checkable deposits in the banking system by a maximum of $200 million, the required reserve ratio is: a. 0
b. 5 percent. c. 10 percent. d. 20 percent. e. 2 percent.
Possibility loss is the loss incurred when a consumer makes a choice between two alternatives
a. True b. False Indicate whether the statement is true or false