The amount of money available in the economy:
A. is called the money supply.
B. is managed by the Federal Reserve.
C. varies depending on what is considered money.
D. All of these are true.
D. All of these are true.
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Refer to the scenario above. In the dominant strategy equilibrium, the payoff to Firm A is ________
A) $1.2 million B) $3.0 million C) $3.5 million D) $2.5 million
Which of the following is not a major responsibility of the Fed?
A) supplying the economy with paper money B) providing check-clearing services C) supervising member banks D) serving as fiscal agent for the Treasury E) All of the above are major responsibilities of the Fed.
Suppose we observe that as a firm increases its price its total revenue decreases. Which of the following is a possible value of its price elasticity of demand?
A. 0.25 B. 0.5 C. 1 D. 2
Referring to Figure 34.1, the number of tickets that this promoter will choose to sell will 
Figure 34.1
A. be where the demand curve crosses the marginal cost curve. B. sell out the facility. C. be more than capacity. D. be such that there are many empty seats.