At the profit-maximizing quantity of output for a monopolist, average revenue, marginal revenue, and price are all equal
a. True
b. False
Indicate whether the statement is true or false
False
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In the bond market, the bond demanders are the ________ and the bond suppliers are the ________
A) lenders; borrowers B) lenders; advancers C) borrowers; lenders D) borrowers; advancers
What happens when the central bank decides it will sell bonds using open market operations?
a. Interest rates decrease. b. The money supply increases. c. The money supply decreases. d. The money supply is unaffected.
How will an increase in the world price of crude oil influence the economy of an oil-importing country such as the United States?
a. Aggregate supply will decrease, leading to a decrease in real GDP. b. Aggregate supply will increase, leading to an increase in real GDP. c. Aggregate supply will increase, leading to an increase in prices and smaller GDP. d. A change in the price of an imported good will not affect the domestic economy of an oil-importing country.
China collectivized its agriculture during the Cultural Revolution
a. True b. False