The process by which monopoly profits lead to technological progress in known as:
A. imperfect competition.
B. destructive creation.
C. creative destruction.
D. economies of scale.
Answer: C
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When supply increases and the supply curve shifts to the right, equilibrium price ________ and equilibrium quantity ________
A) increases; decreases B) decreases; decreases C) increases; increases D) decreases; increases
If the demand for a good is increasing while the supply curve remains unchanged, then we will observe
A) more purchases at a higher price. B) more purchases at a lower price. C) fewer purchases at a higher price. D) fewer purchases at a lower price.
In the long run, when the Fed increases the quantity of money the
A) no real variable changes. B) price level falls. C) real interest rate rises. D) nominal interest rate falls.
The federal agency that ensures that potential security purchasers are well informed is the
A) FCC. B) FTC. C) NRC. D) SEC.