Pricing is an aspect of a firm's:
A. conduct.
B. environment.
C. performance.
D. structure.
Answer: A
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Walton and Rockoff contend that a repetition of the Great Depression is unlikely for all of the following reasons except ____
a. the Federal Reserve is unlikely to repeat the mistakes it made in the 1930s b. the private sector is less vulnerable now because the industrial sector is relatively smaller c. government programs exist that would ameliorate suffering and inhibit the spread of a crippling panic d. the public is unlikely, even in a depression, to vote for a radical government that would frighten business and inhibit investment, the way it did in the 1930s
Ceteris paribus, the greater the increase in the money supply, the __________ the inflation rate, the __________ the expected inflation rate, and the __________ the interest rate
A) higher; higher; higher B) lower; lower; lower C) higher; lower; higher D) lower; higher; lower E) higher; lower; lower
Market failure occurs when
A) the price system fails to generate an efficient allocation of resources. B) the price system fails to generate an equal distribution of income. C) the price system fails to generate an equal distribution of wealth. D) the price system allows consumers to make their own decisions.
If the inverse demand curve a monopoly faces is p = 100 - 2Q, and MC is constant at 16, then maximum profit
A) equals $336. B) equals $882. C) equals $1,218. D) cannot be determined solely from the information provided.