How often does the FOMC meet?
a. once a week
b. once a month
c. two times per year
d. eight times per year
d. eight times per year
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A decrease in the supply of a good will cause a larger increase in its price
A) if there are many close substitutes for the good. B) the greater the scarcity of the good. C) the more elastic the demand for the good. D) the more inelastic the demand for the good.
The kinked demand curve:
a. applies when competitors match price decreases but not price increases. b. could apply to market demand in any market structure. c. applies when competitors match price increases but not price decreases. d. applies to the price leadership model. e. applies when competitors act independently.
In Figure 35.1, what is the opportunity cost of motorcycles in the United States?
A. 2 DVD players per motorcycle. B. 1/2 of a DVD player per motorcycle. C. 1/3 of a DVD player per motorcycle. D. 1 DVD player per motorcycle.
Refer to the information provided in Figure 6.2 below to answer the question(s) that follow.
Figure 6.2Refer to Figure 6.2. Assume Mr. Lingle's budget is AC. At which point does Mr. Lingle spend exactly his income?
A. A. B. D. C. E. D. The answer cannot be determined with the given information.