The interest rate that banks use as a reference point for interest rates on a wide range of loans to businesses and individuals is the ________.
A. discount rate
B. prime rate
C. term auction rate
D. real interest rate
Answer: B
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If the demand curve facing the monopolist is P = 70 - 14Q, then the slope of its marginal revenue curve is:
A. -14. B. -28. C. -7. D. - 35.
Refer to Figure 24-2. Ceteris paribus, an increase in workers and firms adjusting to having previously underestimated the price level would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
The evidence indicates that during the 1770s, the American colonists were
(a) among the most heavily taxed people in the European world. (b) among the most lightly taxed people in the European world. (c) taxed at a rate that was similar to other people in the European world. (d) taxed at rates that can't be compared to other rates due to lack of data.
Which of the following differentiates firm behavior in oligopoly from firm behavior in other market structures?
a. They are price makers. b. They collude to lower prices together. c. They collude to raise prices together. d. They are price takers. e. They take into consideration how other firms might react to their actions.