A market in which profit opportunities are eliminated almost instantaneously is
A. a laissez-faire market.
B. an efficient market.
C. a capitalist market.
D. a socialist market.
Answer: B
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Which of the following shifts the supply curve of rutabagas rightward? (A rutabaga is a potato-like vegetable.)
A) an increase in the price of a rutabaga B) an exceptionally cold summer that killed much of the rutabaga crop C) a fall in the price of fertilizer used to grow rutabagas D) Both answers A and C shift the supply curve of rutabagas rightward. E) Both answers A and B shift the supply curve of rutabagas rightward.
For a monopolist, on the inelastic range of its demand
A) marginal revenue is negative. B) marginal revenue is positive. C) marginal revenue is equal to zero. D) total revenue is maximized.
Lump-sum taxes are equitable but not efficient
a. True b. False Indicate whether the statement is true or false
The Fed's principal decision-making body, which directs buying and selling U. S. government securities, is known as the:
a. Federal Open Market Committee. b. Federal Deposit Insurance Corporation. c. District Board of Governors. d. Reserve Requirement Regulation Conference.