If a monopoly lowers its price, its
a. total revenue must increase.
b. total revenue must decrease.
c. marginal revenue must increase.
d. marginal revenue must decrease.
d
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Peg's Manicure Manor did 4,000 sets of nails in 2015 and 4,500 sets of nails in 2016. The price of a set of nails was $20 in 2015 and $22 in 2016. If 2015 is the base year, Peg's contribution to nominal GDP in 2015 was ________ and to real GDP in 2015 was ________.
A. $80,000; $80,000 B. $80,000; $88,000 C. $88,000; $90,000 D. $80,000; $99,000
Among its duties, the Federal Reserve ________.
A. collects taxes from the commercial banks B. is responsible for regulating and supervising the banks C. uses loans from the commercial banks to increase the money supply D. provides deposit insurance for commercial bank customers
If we wanted to consider all the money that had been "multiplied" in the economy, we would think about:
A. hard money. B. M1. C. M2. D. None of these.
The market in which the currency of one country is traded for the currency of another country is called
A. the futures market. B. the commodities market. C. the foreign exchange market. D. the international trade market.