If duopolists individually pursue their own self-interest when deciding how much to produce, the amount they will produce collectively will
a. be less than the monopoly quantity.
b. be equal to the monopoly quantity.
c. be greater than the monopoly quantity.
d. Any of the above are possible.
c
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The most liquid measure of money supply is
A) M0. B) M1. C) M2. D) M3.
By hedging a portfolio, a bank manager
A) reduces interest-rate risk. B) increases reinvestment risk. C) increases exchange-rate risk. D) increases the probability of gains.
If the price level increases, the money demand curve will
a. shift leftward b. become steeper c. remain in the same position; however, there will be movement upward along the curve d. shift rightward e. remain in the same position; however, there will be movement downward along the curve
The market system corrects a shortage by:
a. Raising product price to decrease production b. Lowering product price to increase production c. Raising product price to increase production d. Lowering product price to decrease production