The expected benefits of central bank independence include avoidance of ________
A) Ben Bernanke
B) public scrutiny of central bank policies
C) the time-inconsistency problem
D) serious policy errors
C
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Refer to Table 2.4. Increasing the tanks of fertilizer from 3 to 4 will increase the truckloads of potatoes by
A) 152. B) 35. C) 17. D) 11.
Innovations, including new products and services, in financial markets and institutions have made the job of defining the money supply easier
Indicate whether the statement is true or false
If a purely competitive firm is maximizing economic profit:
A. it is necessarily maximizing per-unit profit. B. it may or may not be maximizing per-unit profit. C. then per-unit profit will be minimized. D. it is necessarily overallocating resources to its product.
Assume the market in the graph shown with demand D and supply S1 is in equilibrium at a quantity of 5 units. Producer surplus is:
A. $15. B. $10. C. $5. D. $7.50.