Which statement is true?
A. The Federal Open Market Committee has very little power.
B. The Federal Reserve rarely raises or lowers the discount rate.
C. Our money supply grows at a rate of between three and four percent a year.
D. The Federal Reserve rarely changes the reserve requirements.
D. The Federal Reserve rarely changes the reserve requirements.
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To maximize utility consumers should buy goods and services to the point where the marginal utility of each item consumed is maximized
Indicate whether the statement is true or false
The perfectly competitive model assumes that: a. individual sellers can influence the market price
b. sellers can increase their total revenue by raising prices. c. firms can enter and exit the industry with relative ease. d. firms compete by varying a product's quality rather than a product's price.
If regulators were to ensure that monopolistically competitive firms follow a marginal cost-pricing rule: a. new firms would be likely to enter the market
b. the most efficient firms would not likely be affected. c. all firms would experience losses. d. firms would operate at the most efficient scale.
Spot markets are an INEFFICIENT way for the firm to purchase inputs if:
A. profit sharing is used to compensate managers. B. opportunism is a problem. C. opportunism is a problem and suppliers engage in hold-up. D. suppliers engage in hold-up.