The position of a demand curve is unaffected by changes in the price of the good
a. True
b. False
Indicate whether the statement is true or false
True
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To offset the effect of households and firms deciding to hold less of their money in checking account deposits and more in currency, the Federal Reserve could
A) raise the required reserve ratio. B) buy Treasury securities. C) raise the discount rate. D) lower bank taxes.
The conditions for unaligned retailer and manufacturer incentives include
a. customers are unfamiliar with the product features before they shop for it b. retailers have no opportunity to educate consumers c. manufacturers are more efficient at education consumers d. demand for the product is decreased with some consumer education
A common characteristic of oligopolies is:
a. independent pricing decisions. b. interdependence in pricing decisions. c. few or no plant-level economies of scale. d. low industry concentration.
Exhibit 6A-6 Consumer equilibrium
?
As shown in Exhibit 6A-6, the marginal rate of substitution (MRS) at point X is ____ the marginal rate of substitution at point Y.
A. less than B. greater than C. equal to D. twice