An industry's long-run supply curve shows
A) the relationship in the long run between market price and quantity supplied.
B) greater than normal profit.
C) how average productivity is changing.
D) how the government determines the price of the product.
A
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Suppose the Fed decreases the money supply. In response households and firms will ________ short term assets and this will drive ________ interest rates
A) buy; up B) buy; down C) sell; up D) sell; down
Refer to the information provided in Figure 1.7 below to answer the question(s) that follow.
Figure 1.7Refer to Figure 1.7. The slope of the line is
A. decreasing at an increasing rate. B. positive. C. increasing at a decreasing rate. D. negative.
Oligopoly differs from perfect competition because a single competitive firm's behavior does not affect the behavior of its competitors while the behavior of a single oligopolistic firm does affect the behavior of its rivals
Indicate whether the statement is true or false
Excess reserves are important to bankers because:
a. They are typically deposited in special high-yielding investment accounts. b. They represent the funds that can be used to acquire income-producing assets, such as loans and securities. c. They indicate the profits that are divided among the financial institution's owners. d. They indicate profitable banking practices. e. If they are not maintained, banking regulators may shut down the bank.