If quantity supplied is less at each price, we say that there has been
A. an increase in supply.
B. an increase in demand.
C. a decrease in supply.
D. a decrease in demand.
C. a decrease in supply.
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The maximum potential money multiplier is equal to
A) one minus the reserve ratio B) the reserve ratio. C) the inverse of the required reserve ratio. D) the number of dollars on reserve.
When a second firm enters a monopolist's market:
A. the former monopolist's average cost increases as its output level decreases. B. the demand curve facing the former monopolist shifts to the right. C. the market price rises as the average cost increases. D. None of these
Suppose the quantity of x is measured on the horizontal axis. If the price consumption curve is vertical when the price of x changes, then the demand for x is
A) perfectly elastic. B) perfectly inelastic. C) unit elastic. D) There is not enough information to determine the price elasticity of demand for x.
All else equal, false advertising is more prevalent in all of the following types of communities except which one?
A) a resort town B) a college campus C) a tourist destination D) a small town with few visitors