Which of the following is NOT a subgroup of the Federal Reserve System?
A. the Federal Reserve Banks
B. the Federal Funds Market
C. the Board of Governors
D. the Federal Open Market Committee
Answer: B
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The profit-maximizing quantity of the monopolist compared to the perfectly competitive industry in the above figure are, respectively
A) Q1 and Q2. B) Q1 and Q3. C) Q1 and Q5. D) Q2 and Q3.
The primary difference between a monopolistically competitive firm and a monopoly is:
A. the ability for competition to enter the market in the long run. B. the ability for competition to enter the market in the short run. C. only the monopolistically competitive firm is a price taker. D. only the monopolist can set his price equal to demand.
The Industrial Revolution began in Germany and spread to Europe and North America
a. True b. False
An oligopolist will increase production if the output effect is
a. less than the price effect. b. equal to the price effect. c. greater than the price effect. d. The oligopolist never has an incentive to increase production.