Which of the following would the Fed increase in order increase the supply of money?
a. open market purchases of government bonds
b. reserve requirements
c. discount rate
d. all of the above
a
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If a firm's total variable cost exceeds its total revenue, the firm should stop production by shutting down temporarily
Indicate whether the statement is true or false
As you move down a demand curve, if a decrease in price from $11 to $9 increased total revenue, then further decreases below $9 would also increase total revenue
a. True b. False Indicate whether the statement is true or false
Which of the following is an important side effect of government licensing and other grants of monopoly power?
a. The number of options available to consumers is increased. b. Competition is enhanced. c. Firms will produce more efficiently. d. Rent-seeking is encouraged.
Token money is money that can be used for change for other money
Indicate whether the statement is true or false