The face value of money or income is called its ________ value.
A. real
B. marginal
C. nominal
D. external
Answer: C
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Contractionary monetary policy should initially change gross investment by ________.
A. enough to reach full employment B. more than necessary to reach full employment C. an amount determined by the money multiplier D. less than necessary to reach full employment
Governments regulate natural monopoly by capping the price at _____
A. marginal revenue and allowing the monopoly to maximize profit B. marginal cost so that the monopoly is efficient and makes zero eco-nomic profit C. average total cost, which allows the monopoly to be inefficient but make zero economic profit D. the buyers' willingness to pay, which makes the monopoly operate efficiently
Refer to the following graph. A decrease in demand is reflected as
a. a shift of the demand curve from D to D1.
b. a shift of the demand curve from D to D2.
c. movement from point B to A along demand curve D.
d. movement from point A to C when the price is $12.50.
In two-part pricing with identical consumers, a firm
A) charges a lump-sum fee equal to the consumer surplus. B) sets unit price below marginal cost. C) should go with single-price monopoly pricing to maximize profits. D) Both A and B.