Which of the following would cause the money supply to increase?
a. An open market purchase by the Fed. b. A reduction in the discount rate.
c. A reduction in required ratios. d. All of these.
d
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The Clean Air Act of 1970 has
a. been ineffective in reducing lead emissions in automobiles b. actually caused an increase in auto emissions c. been fairly successful in reducing auto emissions, especially lead d. been unsuccessful in reducing auto emissions, especially sulfur oxides e. been ineffective in reducing carbon monoxide emissions from autos
The marginal revenue product curve of a factor is negatively sloped because:
a. the additional revenue generated from an additional unit of a factor remains constant as more resources are hired. b. the additional revenue generated from an additional unit of a factor declines as more resources are hired. c. the additional revenue generated from an additional unit of a factor usually becomes zero as more resources are hired. d. the additional revenue generated from an additional unit of a factor increases as more resources are hired. e. the additional revenue generated from an additional unit of a factor doubles every time new resources are hired.
The recessionary phase of the business cycle is characterized by
a. decreasing real output and increasing unemployment. b. decreasing real output and declining unemployment. c. increasing real output and increasing unemployment. d. increasing real output and declining unemployment.
Explain how a large number of firms in the industry and product heterogeneity affect the likelihood of cartel success.
What will be an ideal response?