The money supply curve is ________.
A. inelastic with respect to the interest rate
B. drawn as a downward sloping line
C. elastic with respect to the interest rate
D. drawn as an upward sloping line
Answer: A
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Price wars are ________ likely to occur when the industry is ________
A) more; a monopoly. B) more; an oligopoly. C) more; perfect competition. D) equally; monopoly, oligopoly, and perfect competition.
A government program, once started, perpetuates itself because those in charge of administering the program often become its strongest supporters
a. True b. False
In the ________, the perfectly competitive firm will react to losses by __________________________.
a. short run; reducing production or shutting down b. long run; reducing production or shutting down c. short run; increasing physical inputs d. long run; increasing capital inputs
Vault cash is part of a commercial bank's
A) demand deposits. B) capital. C) reserves. D) liabilities.