Most of the debates in the U.S. Congress center on
A) efficiency concerns.
B) equity concerns.
C) both efficiency and equity equally.
D) market inefficiency.
B
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If two identifiable markets differ with respect to their price elasticity of demand and resale is impossible, a firm with market power will
A) set a higher price in the market that is more price elastic. B) set a lower price in the market that is more price elastic. C) set price so as to equate the elasticity of demand across markets. D) set price equal to marginal cost in both markets.
In 2008, real GDP in the United States was $13,312 billion. In 2009, real GDP in the United States was $13,112 billion. What was the U.S. economic growth rate from 2008 to 2009?
A) -1.5 percent B) 1.5 percent C) 0.98 percent D) 0.12 percent E) $200 million
Regulation Q
A) prohibited interstate banking. B) placed ceilings on allowable interest rates on time and savings deposits. C) required all banks to hold reserves against demand deposits. D) broadened the basis on which the Fed could make discount loans.
Average costs curves initially fall
a. Due to declining average fixed costs b. Due to rising average fixed costs c. Due to rising fixed costs d. Due to rising marginal costs