In the diagram below, label the x-axis, the y-axis, and the origin
What will be an ideal response?
The figure above has the x-axis, the y-axis, and the origin labeled.
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For the money expansion process to produce the maximum potential multiplier effect
A) all loans of a given bank have to be deposited in that bank. B) the Fed has to sell government bonds to back up the loans. C) the required reserve ratio has to be 100 percent. D) all loans from banks have to be redeposited throughout the banking system.
A temporary negative supply shock ________ real interest rates and ________ output in the short run, thereby its effect on stock prices is ________
A) raises; lowers; negative B) raises; raises; ambiguous C) lowers; raises; negative D) lowers; raises; positive
The principal difference between economic profits for a monopolist and for a competitive firm is that:
a. monopoly profits create major problems of equity whereas competitive profits do not. b. competitive profits exist only in the short run whereas monopoly profits may exist in the long run as well. c. monopoly profits represent a transfer out of consumer surplus whereas competitive profits do not. d. monopoly profits are usually larger than competitive profits.
Suppose the accompanying figure illustrates the demand curve facing a monopolist.
Suppose this firm maximizes its profits by charging a price of $8 per unit. This implies that the firm's:
A. marginal cost is less than $8. B. marginal cost is $0. C. average total cost is $8. D. marginal cost is $8.