The federal funds rate is
A) the interest rate paid on reserves held with the Fed.
B) the interest rate at which banks can borrow excess reserves from other banks.
C) the interest rate on bonds issued by the federal government.
D) none of the above.
B
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By producing less, a firm can reduce
A) its fixed costs and its variable costs. B) its fixed costs but not its variable costs. C) its variable costs but not its fixed costs. D) neither its variable costs nor its fixed costs.
Refer to Figure 5-10. What is the value of the net gain to society as a result of subsidizing chicken pox vaccinations?
A) value equal to the area of FEG B) (PE × QE) C) value equal to the area of QFFGQE D) (PF × QF)
In which of these markets would the firms be facing the least elastic demand curve?
A) perfect competition B) pure monopoly C) monopolistic competition D) oligopoly
A perfectly competitive firm's total revenue curve
a. is a horizontal line b. is a vertical line c. is constant d. has a negative slope e. has a constant positive slope