If a monopolist raises its price
A) it raises the barriers to entry.
B) the quantity demanded increases.
C) the quantity demanded remains the same.
D) the quantity demanded decreases.
Answer: D
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Generally speaking, markets do a(n) ____ job of reconciling the demands of fairness and efficiency.
A. excellent B. above-average C. average D. poor
Any reserves held by a bank above the amount of minimum legal reserves are called
A. total reserves. B. required reserves. C. fiat money. D. excess reserves.
Does the law of supply apply to labor markets?
A. No, because the laws of supply and demand both apply only to product markets. B. Yes, because all workers will increase the number of hours they work if their wages increase. C. Yes, because some workers who are less committed to the labor force will decide to work if wages increase. D. No, because workers have no control over the number of hours they work.
If planned investment decreases as the interest rate increases, the size of the government spending multiplier will be
A) zero. B) larger than the government spending multiplier that would result if planned investment were independent of the interest rate. C) the same as the government spending multiplier that would result if planned, investment were independent of the interest rate. D) smaller than the government spending multiplier that would result if planned investment were independent of the interest rate