After Ben Bernanke became chair of the Fed in 2006, he
A) increased Fed transparency.
B) abandoned inflation targeting.
C) used "just do it" policy.
D) increased the opacity of the policymaking.
A
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A firm's total cost in the short run is the sum of its fixed cost plus its variable cost plus its marginal cost
Indicate whether the statement is true or false
Assume the firms firms operating in an oligopolistic market experience a relatively small change in marginal costs. According to the kinked demand curve model this would:
A) cause a large change in the profit-maximizing level of output. B) leave the equilibrium price unchanged. C) cause the profit-maximizing level of output to change by the same amount and in the same direction. D) cause the profit-maximizing price to change by the same amount but in the opposite direction.
An example of an industry that is an oligopoly would be
a. medical doctors b. auto manufacturing c. landscaping d. restaurants
A program of protection that results in preserving jobs in certain industries
A. raises average productivity in all sectors of the economy. B. does so at very high cost to consumers of the products from those industries. C. is an efficient way to preserve employment and is cheaper than other forms of maintaining full employment. D. is an effective way of encouraging innovation and improvement in production.