For the monopolistically competitive firm, the demand curve it faces will be flatter:
A. the less complementary the good is.
B. the more complementary the good is.
C. the less differentiated the good is.
D. the more differentiated the good is.
Answer: C
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Assuming initially that the required reserve ratio = 10%, the currency-deposit ratio = 75%, and the excess reserve ratio = 156%, an increase in the required reserve ratio to 15% causes the M1 money multiplier to ________, everything else held
constant. A) increase from 0.15 to 0.33 B) increase from 0.54 to 0.67 C) decrease from 0.73 to 0.71 D) decrease from 1.67 to 1.54
In an oligopoly market with a dominant firm and a competitive fringe, if market demand is _____, the market price will be low and the _____ profit will be small
a. less elastic; fringe's b. less elastic; dominant firm's c. more elastic; fringe's d. more elastic; dominant firm's
Tina's marginal utility of her first piece of cake is 15, while Jerry's marginal utility of his first piece of cake is 24 . An economist would conclude that
a. Tina likes cake more than Jerry likes cake b. Jerry likes cake more than Tina likes cake c. Tina likes cake less than Jerry likes cake d. Jerry likes cake less than Tina likes cake e. we can't judge who values cake more
Conservatives usually favor increasing government spending to increase aggregate demand
a. True b. False Indicate whether the statement is true or false