The theory of economic rent can be used to explain high incomes received by movie stars and athletes.
Answer the following statement true (T) or false (F)
True
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The producer surplus to a monopolist must be
A) less than zero or the firm is in violation of anti-trust statutes. B) at least as great as the producer surplus in a competitive market. C) positive, otherwise why would the monopoly produce? D) the same as for a competitive market.
A booming economy can make investors:
A. wary of future downturns, and shift the supply curve for loanable funds to the left. B. eager to borrow money, and shift the demand curve for loanable funds to the right. C. eager to borrow money, and shift the supply curve for loanable funds to the right. D. wary of future downturns, and shift the demand curve for loanable funds to the left.
The Federal Reserve Bank of ________ houses the open market desk
A) Boston B) New York C) Chicago D) San Francisco
Suppose that the latest Consumer Price Index (CPI) release shows a higher inflation rate in the U.S. than was expected. Everything else held constant, the release of the CPI report would immediately cause the demand for U.S
assets to ________ and the U.S. dollar would ________. A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate