Changes in the discount rate are initiated by
a. the Federal Open Market Committee.
b. Federal Reserve Banks.
c. member banks of the Fed.
d. the president of the New York Federal Reserve Bank.
b. Federal Reserve Banks.
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If the reciprocal of the slope of a demand curve is calculated, this value is equal to the price elasticity of demand for that good.
Answer the following statement true (T) or false (F)
Refer to Figure a. Assuming the solid line in the graph is a constant expected consumption line where ? (the probability of state S) = 0.50, which constant expected consumption line reflects an increase in ??
A. The dotted line
B. The dashed line
C. An increase in ? does not result in a change in the expected consumption line.
D. A change in ? results in a parallel shift in the expected consumption line, so neither the dotted nor the dashed line reflects this change.
In the European model the stakeholder plays a less prominent role than in the Anglo-Saxon model
a. True b. False
Monopolists are like perfectly competitive firms in that ______.
a. both maximize profits at the output level where marginal revenue equals marginal cost b. both could be earning either profits or losses in the short run c. both are in industries with downward-sloping demand curves d. all of these are true of both of them e. both maximize profits at the output level where marginal revenue equals marginal cost and both could be earning either profits or losses in the short run are true of both of them, but not both are in industries with downward-sloping demand curves