The Federal Reserve System's four monetary policy goals are
A) low government budget deficits, low current account deficits, high employment, and a high foreign exchange value of the dollar.
B) price stability, low government budget deficits, low current account deficits, and a low rate of bank failures.
C) price stability, high employment, economic growth, and stability of financial markets and institutions.
D) a low rate of bank failures, high reserve ratios, price stability, and economic growth.
C
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Perfect competition is a market structure in which there is:
a. a contest among firms to provide good service after the sale. b. competition in product quality. c. rivalry in product design. d. none of these.
Suppose the market price exceeds the typical perfectly competitive firm's short-run average total cost. What will happen to this market in the long run?
a. The market demand curve will shift to the left as firms exit. b. The market supply curve will shift to the left as firms exit. c. The market demand curve will shift to the right as firms enter. d. Both the market demand and supply curves will shift to the left as firms exit. e. The market supply curve will shift to the right as firms enter.
One In the News article titled "CDs Not Paying Much" suggests that
A. Interest rates on CDs are not much higher than for checking accounts. B. Interest rates fall the larger the CD. C. The size of the CD has no bearing on the interest rates. D. None of the choices are correct.
Economists do not consider the smartphone industry perfectly competitive because
A. the government strictly regulates entry and exit. B. smartphone manufacturers each have a small market share. C. there are a large number of smartphone manufacturers. D. smartphones are heterogeneous.