The Federal Reserve provides gold in exchange for Federal Reserve notes
a. True
b. False
Indicate whether the statement is true or false
False
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The monopolist's demand curve is
a. downward sloping and identical to the market demand curve b. downward sloping and identical to the marginal revenue curve c. downward sloping and lies below the marginal revenue curve d. a horizontal line at a price consistent with maximum profit e. a U-shaped curve that lies above the U-shaped ATC curve
The demand curve is the upward-sloping line relating price and quantity demanded
a. True b. False Indicate whether the statement is true or false
The problem with applying monetary policy to the housing bubble affiliated with the recession of 2007–2008 was that the bubble was recognized______.
a. too late to take action b. so far in advance that the actions taken were excessive c. in time, but no action was taken d. in time, but underestimated
Which is the most accurate statement about the GDP deflator and the consumer price index?
a. The GDP deflator compares the price of a fixed basket of goods and services to the price of the basket in the base year, whereas the consumer price index compares the price of currently produced goods and services to the price of the same goods and services in the base year. b. The consumer price index compares the price of a fixed basket of goods and services to the price of the basket in the base year, whereas the GDP deflator compares the price of currently produced goods and services to the price of the same goods and services in the base year. c. Both the GDP deflator and the consumer price index compare the price of a fixed basket of goods and services to the price of the basket in the base year. d. Both the GDP deflator and the consumer price index compare the price of currently produced goods and services to the price of the same goods and services in the base year.