Both individual buyers and sellers in perfect competition
A) can influence the market price by their own individual actions.
B) can influence the market price by joining with a few of their competitors.
C) have the market price dictated to them by government.
D) have to take the market price as a given.
D
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The formula for the slope across an arc is used to approximate the slope for
A) linear relationships only. B) a curved line. C) a positive relationship only. D) a negative relationship only.
Which of the following is false? a. A Nash equilibrium can be a dominant strategy
b. A Nash equilibrium maximizes a player's welfare, given the actions of its competitor, while a dominant strategy maximizes a player's welfare, regardless of the behavior of its competitor. c. A Nash equilibrium is just another name for a dominant strategy. d. A Nash equilibrium is a self-enforcing equilibrium.
State and local governments receive money from sales taxes, property taxes, and the federal government.
Answer the following statement true (T) or false (F)
Which of the following actions by the Fed most likely increase commercial bank lending?
A. Raising the reserve ratio. B. Increasing the federal funds rate target. C. Reducing the interest paid on reserves held at the Fed. D. Selling bonds to commercial banks and the public.