Currency is included in
A. M2 only.
B. M3 only.
C. M1 and M2 only.
D. M1, M2, and M3.
D. M1, M2, and M3.
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A key for a monopoly that wants to practice price discrimination is to be able to control the resale of its product
a. True b. False Indicate whether the statement is true or false
Consider a market characterized by the following inverse demand and supply functions: PX = 40 - 4QX and PX = 10 + 2QX. Compute the surplus received by consumers and producers.
A. $50 and $25, respectively. B. $40 and $20, respectively. C. $20 and $40, respectively. D. $25 and $25, respectively.
The Celler-Kefauver Act of 1950:
A. outlawed price-fixing. B. amended the Sherman Act. C. amended the Clayton Act. D. created the Civil Aeronautics Board (CAB).
Answer the following questions true (T) or false (F)
1. GDP is not a complete measure of well-being. 2. The size of the underground economy as a percent of GDP is larger in the United States as compared to poorer countries such as Zimbabwe. 3. If an increase in crime causes households to spend money on police and security systems, GDP will rise.