Savings and money market accounts are not included in:
A. M1.
B. M2.
C. M3.
D. L.
Answer: A
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In the figure above, which of the following is true?
i. Governments coordinate economic activities of households and firms. ii. Governments buy goods and services in goods markets. iii. Households pay taxes directly to firms. A) only ii B) only i C) only iii D) i and ii E) ii and iii
If the demand for its product is elastic, a monopoly's
A) total revenue is unchanged when the firm lowers its price. B) total revenue decreases when the firm lowers its price. C) marginal revenue is positive. D) marginal revenue is zero.
Which is a distortion (a loss of social surplus) associated with a monopolist's inability to observe consumer types when constructing a nonlinear pricing scheme?
a. The monopolist must expend more resources on market research. b. All bundles involve inefficiently low quantities. c. Some but not all bundles involve inefficiently low quantities. d. Quantities aren't distorted, but prices extract too much consumer surplus.
An oligopolist cares very much about what other firms in her industry are doing
a. True b. False Indicate whether the statement is true or false