OPEC is an example of a:
A. cartel.
B. duopoly.
C. monopoly.
D. monopsony.
Answer: A
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Joshua's indifference curves for two products are shown below:
Which of the following indifference curves is the most preferred?
A. U1 B. U2 C. U3 D. Unclear given the current information
If the Federal Reserve sells $20 million worth of government securities and the M1 multiplier is 2.5. Bank reserves will
A) fall by $20 million. B) fall by $50 million. C) fall by $16 million. D) fall by $8 million.
The central banking system of the United States:
a. Federal Reserve b. National Bank of Washington D.C. c. Dow Jones Stock Exchange d. NASDAQ Exchange
Graphically, diseconomies to scale are illustrated by
A. a downward sloping long-run average cost curve. B. a horizontal long-run average cost curve. C. an upward sloping long-run average cost curve. D. a long-run average cost curve that is shaped like an upside down U.