When looking at a monopolist's level of output, you can expect to find
A. average revenue greater than price.
B. price greater than marginal cost.
C. marginal cost greater than marginal revenue.
D. marginal revenue greater than price.
B. price greater than marginal cost.
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Which of the following functions of government gives property owners the incentive to use their property efficiently?
A) making sure that courts are lenient on people who steal private property B) the protection of property rights C) the enforcement of antitrust legislation D) the financing of public goods
Which of the following correctly describe an economy's potential output level?
a. The maximum output level that is sustainable given available resources, technology, institutional constraints, and production incentives. b. The amount produced when there are surprises associated with the price level in an economy. c. The amount produced when there are surprises associated with the unemployment level in an economy. d. The maximum output level that is not sustainable given available resources, technology, institutional constraints, and production incentives.
The cost to a member bank of borrowing from the Federal Reserve is called the:
A. reserve requirement. B. price of securities in the open market. C. discount rate. D. yield on government bonds.
Refer to the information provided in Figure 25.1 below to answer the question(s) that follow.
Figure 25.1Refer to Figure 25.1. The movement from C to B could be cause by
A. an increase in the interest rate. B. a decrease in nominal income. C. an increase in nominal income. D. a decrease in the interest rate.