When quantity demanded is equal to quantity supplied, we are at ___________.
Fill in the blank(s) with the appropriate word(s).
equilibrium
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The tools of the Federal Reserve:
A. sometimes rely on other actors, such as banks, who can sometimes be unreliable. B. are easy to use and usually have predictable, standardized effects. C. sometimes rely on other actors, such as banks, whose actions can be easily predicted. D. tend to be politically unpopular and thus are rarely used to their full capability.
The lack of investment in developing countries is at least in part attributable to:
A. high levels of foreign aid. B. low levels of domestic savings. C. inappropriate education. D. overpopulation.
The producer's surplus of all firms in an oligopoly is usually the least in the case of a:
A. Stackelberg oligopoly. B. Bertrand oligopoly. C. Cournot oligopoly. D. Sweezy oligopoly.
Yvone is debating whether to take a job as a professional therapist or a florist. She will earn $40,000 a year as a therapist or $25,000 a year as a florist. If Yvone chooses to be a therapist, the economic rent is
A. $40,000. B. $15,000. C. $25,000. D. unable to determine.