A monopoly's
a. supply curve is the same as its marginal cost curve
b. supply curve is the same as its marginal revenue curve
c. marginal cost curve is downward sloping
d. demand curve is horizontal
e. marginal revenue curve is downward sloping
E
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Suppose a jar of DeLux popcorn that is ultimately sold to a customer at Friendly Groceries is produced by the following production process: Name of CompanyRevenuesCost of Purchased inputsFulton Family Farm$0.500DeLux Popcorn Co.$2.50$.50Friendly Groceries$4.00$2.50If the corn was grown and the jar of popcorn produced in the year 2015, but the jar was sold at Friendly Groceries in the year 2016, what is the contribution of these transactions to GDP in the year 2016?
A. $0.50 B. $4.00 C. $1.50 D. $0.00
U.S. national debt _______ when the federal government's _______
A. increases; outlays exceed tax revenue B. decreases; outlays exceed tax revenue C. increases; tax revenue rises faster than outlays D. decreases; tax revenue rises faster than outlays
The US government generally finances its debt by:
A. selling US securities. B. printing money. C. borrowing directly from the FED. D. borrowing directly from very large banks.
A single bank is limited in its ability to create money because
a. loan recipients usually take the proceeds of the loan in cash. b. the FDIC will not permit it to create money unless the loans are guaranteed by the federal government. c. the money loaned will probably be deposited in another bank. d. federal legislation prohibits banks from creating money except to finance international trade.