Other things remaining the same, in the long run ________ in the quantity of money brings an equal percentage ________
A) a decrease; increase in the price level
B) an increase; decrease in the price level
C) a decrease; increase in the nominal interest rate
D) a decrease; decrease in the price level
E) an increase; increase in the real interest rate
D
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Which of the following is NOT a TRUE statement about perfectly competitive and monopolistically competitive firms?
A) Both monopolistically competitive and perfectly competitive firms have perfectly elastic demands. B) In the long run, only monopolistically competitive firms have excess capacity. C) Perfectly competitive firms produce at their efficient scale. D) There are a large number of firms in both monopolistically competitive and perfectly competitive markets.
A financial market in which previously issued securities can be resold is called a ________ market
A) primary B) secondary C) tertiary D) used securities
In the 1945 Alcoa antitrust case, the Court found Alcoa:
A. not guilty of violating the Sherman Antitrust Act because it was a good monopoly. B. did not have a good reason for having a large market share, so found it guilty. C. guilty because its firm size was a per se violation of antitrust laws. D. not guilty because it did not engage in any illegal or unfair acts.
The Federal Reserve System consists of which of the following?
A. Federal Deposit Insurance Corporation and Controller of the Currency. B. Board of Governors and the 12 Federal Reserve Banks. C. U.S. Treasury Department and Bureau of Engraving and Printing. D. Federal Open Market Committee and Office of Thrift Supervision.