The price at which the quantity supplied equals the quantity demanded is the
A. equilibrium quantity.
B. market price.
C. satiation point.
D. equilibrium price.
Answer: D
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The commercial banking system borrows from the Federal Reserve Banks. As a result, the checkable deposits ________.
A. and reserves of commercial banks are both unchanged B. of commercial banks are unchanged, but their reserves increase C. of commercial banks are unchanged, but their reserves decrease D. and reserves of commercial banks both decrease
The reason that the government offers inventors exclusive rights to their product for a period of time is to
A) promote innovation. B) increase profits of certain companies. C) maximize consumer utility. D) reduce market concentration.
In the long run, advertising by all firms in a monopolistically competitive industry
A) increases all firms' demand. B) decreases all firms' demand. C) lowers all firms' costs. D) might increase or decrease the firms' prices. E) lowers all firms' prices.
The marginal propensity to consume (MPC) is computed as the change in:
a. consumption divided by the change in savings. b. consumption divided by the change in disposable personal income. c. consumption divided by the change in GDP. d. None of these.