Usury laws
a. limit the use of land to the production of only certain farm goods
b. establish price ceilings on interest rates
c. establish price floors on interest rates
d. protect consumers from the excessive market power of the large agribusinesses who dominate many farm markets
e. set the parity pricing ratios
B
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Suppose the table below describes the demand for a good produced by monopolist.PriceQuantity$101$92$83$74$65$56$47The monopolist's total revenue from selling 3 units is ________, and the monopolist's marginal revenue from selling the 3rd unit is ________.
A. $24; 8 B. $24; 6 C. $28; 8 D. $52; 1
A simple solution to the problem of monopolies is for the government to regulate price
Indicate whether the statement is true or false
The aggregate demand curve shows the:
a. Direct relationship between the price level and real GDP produced b. Inverse relationship between interest rates and real GDP produced c. Inverse relationship between the price level and real GDP purchased d. Direct relationship between real-balances and real GDP purchased
The policy irrelevance proposition states that
A. anticipated changes in monetary policy are ineffective in changing real Gross Domestic Product (GDP). B. only relatively large expected changes in monetary policy impact the economy. C. in the short run unanticipated changes in monetary policy are ineffective in changing real Gross Domestic Product (GDP). D. only statements from the White House have impact on the economy.