Probably the most important factor affecting material well-being is
a. inflation rates.
b. unemployment rates.
c. budget deficits.
d. growth in productivity.
e. monopoly power.
d
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If commercial banks are maintaining a 4 percent reserve/deposit ratio and the Fed raises the required reserve ratio to 6 percent, then banks will ________ their loans based on current deposits, and the money supply will ________.
A. decrease; decrease B. increase; increase C. decrease; increase D. increase; decrease
When Dominant Pizza is willing to sell a pizza to a student who lives on-campus at a lower price than it sells the identical pizza to a student who lives a block away from the campus, the pizza firm is ________
A) practicing price discrimination B) unfair C) incurring a loss on on-campus sales D) eliminating all competition
Kellogg's and General Mills are two of the dominant breakfast cereal manufactures in the U.S. Each firm can either sign or not sign an exclusive contract with an Olympian gold-medal athlete to appear on the cover of a cereal box
If both companies sign an athlete, they will each make $5 million in economic profit. If only firm signs, they earn $8 million in economic profit and the other firm incurs an economic loss of $1 million. If neither firm signs, they break even. Which of the following pairs of payoffs would NOT appear together in a square of the payoff matrix? A) $5 million; $5 million B) $0 million; $0 million C) $8 million; $5 million D) -$1 million; $8 million
Refer to Figure 4-3. If the market price is $4.00, what is the maximum number of ice cream cones that Kendra will buy?
A) 0 B) 2 C) 3 D) 4