What is one role of the federal government's Department of Justice?
(A) To eliminate all barriers to entry.
(B) To break up monopolies.
(C) To encourage price fixing.
(D) To provide businesses with loans for start-up costs.
Ans: (B) To break up monopolies.
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How much would the firm make in revenue if it prices both its products successfully?
a. $110 b. $120 c. $130 d. $140
The above table gives assets and deposits for a (small) bank. The bank's reserves are equal to
A) $20. B) $30. C) $600. D) $630. E) $620.
If the Fed injects reserves into the banking system and they are held as excess reserves, then the money supply
A) increases by only the initial increase in reserves. B) increases by only one-half the initial increase in reserves. C) increases by a multiple of the initial increase in reserves. D) does not change.
The political process by which fiscal policy is made
A) is relatively rapid, contributing to the effectiveness of fiscal policy. B) requires only that the president approve changes to the budget, a decision that takes several months. C) is efficient in reaching a decision within a year. D) is slow and results in a long time lag for fiscal policy.