A ________ is a person who wants to enjoy the benefits of a public good without contributing his or her marginal benefit to the cost of financing the amount made.
A. free rider
B. politician
C. price maker
D. price optimizer
A. free rider
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A monopolistically competitive firm has ________ power to set the price of its product because ________
A) no; there are no barriers to entry B) some; there are barriers to entry C) no; of product differentiation D) some; of product differentiation
The most effective and frequently used tool the Fed has at its disposal to change the economy's money supply is
a. open market operations b. the discount rate c. the legal reserve requirement d. the federal funds rate e. the margin requirement
Franklin Delano Roosevelt took steps to discourage bank failures by:
A. eliminating guarantees on people's bank deposits. B. maintaining a balanced budget. C. decreasing government spending. D. initiating government guarantees on people's bank deposits.
A monopolist produces in the elastic segment of its demand curve because when it lowers the price
A) the percentage change increase in quantity demanded is greater than the percentage change decrease in price and total revenue increases. B) the percentage change increase in quantity demanded is less than the percentage change decrease in price and total revenue increases. C) the percentage change increase in quantity demanded is greater than the percentage change decrease in price and total revenue decreases. D) the percentage change decrease in quantity demanded is less than the percentage change decrease in price and total revenue increases.