The demand curve for money
a. shows the amount of money balances that individuals and businesses wish to hold at various interest rates.
b. reflects the open market operations policy of the Federal Reserve.
c. shows the amount of money that individuals and businesses wish to hold at various price levels.
d. reflects the discount rate policy of the Federal Reserve.
A
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Refer to Figure 15-4. Profit can always be increased by increasing the level of output by one unit if the monopolist is currently operating at
(i) Q0.
(ii) Q1.
(iii) Q2.
(iv) Q3.
When the government imposes a specific tax per unit on a product, changes in consumer surplus are ________ and changes in producer surplus are ________
A) negative; positive B) positive; positive C) negative; negative D) positive; negative
Studies show that the demand curve for peas has shifted. Which of the following explanations would you reject first?
a. The price of string beans has changed. b. The demand for corn has changed. c. The demand for string beans has changed. d. The income of consumers has changed. e. The price of peas has changed.
In the long run, entry ensures that the typical monopolistically competitive firm will
a. produce at minimum efficient scale b. earn an economic profit c. earn a normal profit d. price its output at marginal cost e. standardize its product