During the course of a bad recession the Fed would probably be doing each of the following, except
A. selling securities on the open market.
B. lowering interest rates.
C. lowering reserve requirements.
D. lowering the discount rate.
A. selling securities on the open market.
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Relative to simple pricing, price discrimination leads to
a. Consumer surplus being converted to producer surplus b. Increased profits c. A simplified pricing schedule d. Both a and b
Unlike the situation for a firm in perfect competition, positive economic profit exists for firms in monopolistic competition for both the short run and in the long run.
Answer the following statement true (T) or false (F)
"Trade restrictions such as tariffs and quotas are like a blockade that a nation imposes on its own people." Is this statement true?
What will be an ideal response?
An embargo is a prohibition against trading particular goods.
Answer the following statement true (T) or false (F)