At equilibrium, quantity demanded is _____ equal to quantity supplied.
A. always
B. usually
C. sometimes
D. never
A. always
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All the following statements about the Federal Reserve are true EXCEPT the fact that it ________
A) is a public authority B) regulates a nation's depository institutions C) accepts checking deposits from the nation's residents D) controls the quantity of money
Assume the market for tennis balls is perfectly competitive. When one tennis ball producer exits the market,
a. the price of tennis balls increases. b. the price of tennis balls decreases. c. the price of tennis balls does not change. d. there is no longer a market for tennis balls.
How much is the unemployment rate at point Q?
Answer the following statement(s) true (T) or false (F)
1. The demand curve for a monopolistic firm is the same as the demand curve for its market. 2. A monopolist’s marginal revenue always less than the price. 3. A monopolist will intentionally operate on the inelastic portion of its demand curve. 4. If marginal costs exceed marginal revenues, profits drop. 5. Multiplying average total cost by the output level gives the total cost.