Despite the Postal Service's legal monopoly over first-class mail delivery,
a. the price of a first-class stamp has not changed for over a decade
b. the price of a first-class stamp has fallen as delivery volume increased
c. it still produces along the inelastic range of the market demand curve
d. its faces competition from foreign suppliers
e. it has lost huge chunks of other mail classes to private firms
E
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If the Fed wants to increase the money supply, it can __________ the required reserve ratio, conduct an open market __________, or __________the discount rate
A) lower; sale; raise B) lower; purchase; raise C) lower; purchase; lower D) raise; sale; lower E) raise; purchase; raise
Which of the following is/are part of Fayol's 14 principles of management?
Scarcity means we are unable to have as much as we would like to have
a. True
b. False
Indicate whether the statement is true or false
When a firm is operating at an output rate at which total revenue equal total costs, this is called
A. its shutdown point. B. its breakeven point. C. a loss. D. a short-run profit.