An offer is the right but not the obligation to buy or sell foreign currency.
a. true
b. false
b. false
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Assuming all excess reserves are loaned out, currency holdings by the public are zero, and a reserve ratio of 2 percent, an initial deposit of $500 will lead to a total increase in deposits of
A) $250. B) $5,000. C) $25,000. D) $50,000.
A monopoly will price its product:
a. where total revenue is maximized. b. where total costs are minimized. c. at that point on the market demand curve corresponding to an output level in which marginal revenue equals marginal cost. d. at that point on the market demand curve which intersects the marginal cost curve.
Demand elasticity can be
A) elastic, unit, or free. B) elastic or inelastic. C) elastic, inelastic, or unit elastic. D) 1, -1, or 0.
Which of the following is an expected result of a network externality?
a. An increase in deadweight loss b. An increase in social costs c. A positive spillover effect d. An increase in private costs