Exhibit 13-3 A monopolist
In Exhibit 13-3, if this industry is regulated and the regulatory commission sets price equal to average total cost, then:
A. this firm would earn excess profit.
B. total revenue would equal marginal revenue.
C. the firm would suffer losses.
D. revenue would just be sufficient to cover costs.
Answer: D
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a. The balance of trade has been in deficit. b. During recessions the balance has usually been flat. c. The balance of trade has been in surplus. d. When the economy expanded, the demand for imports increased. e. When the economy expanded, the trade balance worsened.
The human mind's abilities to reason and imagine are facilitated by the information it can collect from trustworthy sources, rather than by facts and experiences it can recall from memory
Indicate whether the statement is true or false
Deliberate manipulation of government spending and taxes to promote macroeconomic goals is known as _____
Fill in the blank(s) with the appropriate word(s).
Which of the following policy tools is directly controlled by the Trading Desk at the Federal Reserve Bank of New York?
A. open market sales and purchases B. the spread between the federal funds rate and the interest rate on banks' required reserves C. the spread between the discount rate and the federal funds rate D. the required reserve ratio