Which monetary aggregate is the least broad?
A. the monetary base
B. M2
C. cash held by the public
D. M1
Answer: C
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Assume that there was a 5 percent increase in the price of all goods in 2015; if the base year is 2014, then the price index in 2015 will be
A) 95. B) 105. C) 110. D) 1100.
A prisoner's dilemma can be described as a situation in which
a. a decision maker is uncertain about the potential punishment for something done in the past b. an individual decision maker finds it in his best interest to pursue a course of action that can lead to a less than desirable outcome for the group c. producers act so as to avoid maximizing profits because of government retaliation d. individual firms seeks to maximize their own profits with no regard for the group e. the summation of individual demand curves creates an inelastic demand curve facing the industry
If a profit-maximizing monopolist finds that marginal cost is increasing and exceeds marginal revenue, it should: a. increase output and decrease price. b. increase price and decrease output. c. decrease both price and output
d. increase both price and output.
Merit pay for teachers has a _________ on test student test scores.
A. positive B. negative C. undetermined D. none of these answer options are correct.