If the output is too low, to achieve the medium run equilibrium, the central bank will
A) increases policy rate.
B) reduces policy rate.
C) increase money supply.
D) increases inflation rate.
B
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Fill in the blank: Wealth, in the economic way of thinking, is ________
A) whatever people value B) owned financial assets C) impossible to study scientifically D) indefinable E) any material thing
Production indifference curves generally have a positive slope
a. True b. False Indicate whether the statement is true or false
If the demand for agricultural products is price inelastic and the supply is dependent upon weather conditions, then
A) price changes are likely to be small, and farm revenues are likely to be highly volatile. B) price changes are likely to be large, and farm revenues are likely to be highly volatile. C) prices are likely to be constant, and farm revenues are likely to be constant. D) prices are likely to be constant, and farm revenues are likely to be highly volatile. E) price changes are likely to be small, and farm revenues are likely to be constant.
Based on the diagram above, what is the difference between the purely competitive level of output and the pure monopolist level of output?
A. 50 units of output B. 100 units of output C. 10 units of output D. 20 units of output