Before the banking industry was deregulated, the interest rates that savings and loan institutions paid to depositors was fixed by the federal government
Indicate whether the statement is true or false
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The kinked-demand curve model of oligopoly:
A. assumes a firm's rivals will ignore any price change it may initiate. B. suggests a firm's rivals will ignore a price cut but match a price increase. C. assumes a firm's rivals will match any price change it may initiate. D. suggests small changes in unit costs will have no effect on equilibrium price and output.
All of the following statements about inflation in the United States are correct except
A. Since the Great Depression, average prices have risen almost every year. B. The inflation rate was 13.5 percent in 1980. C. Inflation was at its worst during the Great Depression. D. Prior to World War II, the United States experienced periods of both deflation and inflation.
The marginal revenue product can be expressed as the
A) additional revenue received from selling one more unit of product. B) increment to revenue received from one additional unit of input hired. C) marginal physical product of an input times the average revenue received from the sale of the product. D) average physical product of the input times the marginal revenue received from the sale of the final product.
See Scenario 4.1. What is Daniel's income-consumption curve?
A) Pc = Pd B) Pc = Qc C) Qd = I - 3Qc D) Qc = Qd E) all of the above