A monopolist's profit is the product of the price charged by it and the quantity of output produced
a. True
b. False
Indicate whether the statement is true or false
False
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In perfect competition, the elasticity of demand for the product of a single firm is
A) 0. B) between 0 and 1. C) 1. D) infinite.
Which of the following would lead to a leftward movement along the supply curve of euros?
a. An increase in the U.S. interest rate relative to the European interest rate b. An increase in the dollars per euro exchange rate c. A decrease in Europe's GDP d. A decrease in the dollar price of the euros e. A decrease in the U.S. price level relative to the European price level.
If education creates external benefits,
a. actual market outcomes provide less than the efficient quantity of education. b. actual market outcomes provide more than the efficient quantity of education. c. actual market outcomes provide a higher price than the efficient price of education. d. the government should impose a depletion tax.
Suppose a bank has $2 million in excess reserves and total reserves of $10 million. A required reserve ratio of 10% is applicable to all deposits at the bank. What is the total amount of deposits at the bank?
a. $80 million b. $8 million c. $800 million d. $20 million e. $100 million