Given the zero lower bound on the nominal rate, the lowest real interest rate the central bank can achieve is
A) - .
B) .
C) 0.
D) i.
A
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An owner of a local salon realized that by decreasing the prices that she charges for haircuts, her revenue has increased. This implies that
a. The demand for her haircuts is elastic b. The demand for her haircuts is inelastic c. The demand for her haircuts is unitary elastic d. The demand for her haircuts is perfectly inelastic
Household production consists of households producing goods and services, like meals, cleaning and child care, instead of firms
a. True b. False
If a hospital is experiencing economies of scale,:
a. it should reduce its output level to lower costs. b. its average cost curve is negatively sloped as output increases. c. prices are obviously too high. d. quality is falling as output is rising. e. its average cost curve is positively sloped as output increases.
When did the government address auto emissions by requiring new cars to be fitted with catalytic converters?
a. 1945 b. 1970 c. 1984 d. 2012