A perfectly competitive firm may, under some circumstances, be able to affect the market price
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following is a source of market power for a monopolist?
a. a firm may have a patent or copyright b. a firm may control critical resources c. a firm may have a government-authorized franchise d. a firm may enjoy economies of scale e. all of the above are sources of market power for a monopolist
A pollution tax internalizes the costs of pollution a firm is imposing on others.
Answer the following statement true (T) or false (F)
Standby letters of credit
A) are a form of swaps. B) are a promise by a bank to lend the borrower funds to pay off its maturing commercial paper. C) are a promise by a large depositor to provide additional funds to a bank should the bank face an unexpectedly large deposit outflow. D) represent the unused balance on a bank credit card.
The legal reserve requirement that banks must adhere to is set by
a. Congress b. the FDIC c. the Treasury Department d. the banking system e. the Federal Reserve