When a binding price floor is imposed on a market to benefit sellers,
a. no sellers actually benefit.
b. some sellers benefit, but no sellers are harmed.
c. some sellers benefit, and some sellers are harmed.
d. all sellers benefit.
c
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Refer to Table 17-2. The firm represented in the diagram
A) has market power in the output market. B) has market power in both the factor and product market. C) has market power in the factor market. D) has no market power in the factor or product market.
Which of the following conclusions is not supported by the Three-Sector-Model?
a. A higher GDP Price Index in a nation increases the ability and willingness of domestic businesses to supply goods and services, but it decreases consumers' willingness and ability to buy them. b. An increase in the supply of a nation's currency in the foreign exchange market lowers its international value. c. An increase in nation's demand for goods and services within the Keynesian range is often accompanied by a strong rise in the consumer price index. d. A decrease in nation's demand for goods and services within the Intermediate range usually leads to higher employment.
Monopolistically competitive markets differ from perfectly competitive markets due to (i) the number of sellers. (ii) the barriers to entry. (iii) the product differentiation among the sellers
a. (i) only b. (iii) only c. (i) and (iii) only d. (ii) and (iii) only
Consider the following data: currency (held outside banks) = $354 billion, checkable deposits = $250 billion, traveler's checks = $4 billion, small-denomination time deposits = $200 billion, savings deposits = $100 billion, retail money market mutual funds = $160 billion. M1 equals __________ billion and M2 equals __________ billion
A) $608; $1,068 B) $708; $1,038 C) $708; $948 D) $694; $1,038 E) none of the above