The quantity of a public good supplied by a private market is
A) smaller than the efficient quantity.
B) equal to the efficient quantity.
C) larger than the efficient quantity.
D) the quantity that maximizes total public benefit.
A
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Stating the dollar has strengthened against the yen means the dollar has depreciated
Indicate whether the statement is true or false
The production period in which at least one input is fixed in quantity is the
A) production run. B) long run. C) short run. D) planning horizon.
The major similarity between a monopolist and a monopolistically competitive firm is that:
a. both are price takers. b. both face a horizontal demand curve. c. both are the sole producers of a particular good. d. both face a negatively sloped demand curve. e. both are affected by the decision of their rivals.
If the reserve ratio is 8 percent, then a decrease in reserves of $6,000 can cause the money supply to fall by as much as
a. $48,000. b. $75,000. c. $55,200. d. $10,800.