Which of the following cities contains a Federal Reserve bank?
A) Pittsburgh
B) Los Angeles
C) Seattle
D) Dallas
D
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The Law of Supply insures that supply curves slope upward
Indicate whether the statement is true or false
A car dealer advertises free satellite radio for one year with the purchase of a new car. This is an example of:
A. bait and switch. B. marginal sales. C. an incentive. D. voluntary exchange.
Say that a monopolist is currently operating on the inelastic region of its demand curve. To maximize its profits, it should: a. raise its prices
b. lower its prices. c. maintain its current price. d. either raise or lower its prices, depending on how high its marginal cost curve is.
In the early 1990s, Serbia, a developing country, experienced hyperinflation because its central bank increased the money supply too rapidly. Serbia's central bank most likely adopted this monetary policy because:
A. it didn't care about inflation. B. the Serbian government granted independence to the central bank. C. the Serbian government had no other way to finance its expenditures. D. it believed that its actions would not trigger inflation.