The Fed is dependent upon government policy, as witnessed by its actions in the early and mid-1980s
Indicate whether the statement is true or false
F
You might also like to view...
A monopolist that operates along the elastic range of its demand will find that
A) its total revenue increases when price decreases. B) its total revenue decreases when price decreases. C) its marginal revenue is negative. D) it is more profitable to operate along the inelastic range of the demand curve.
The demand schedule shows that the price of a good and quantity demanded are directly related to each other
a. True b. False Indicate whether the statement is true or false
The basic difference between a tariff and quota is that:
a. quota can be imposed both on imports and exports whereas a tariff can be imposed only on imports. b. quota yields revenue to the government whereas tariff does not yield any revenue. c. tariff reduces the import of the goods with greater certainty than quota as the amount of import restricted by quota depends on the price elasticity of demand for importable. d. tariff is a quantitative restriction on imports whereas quota is an import duty. e. a tariff raises the price of the product only in the domestic market whereas with a quota, both domestic and foreign producers receive a higher price.
Monopolies may earn positive economic profits in
a. only the short run. b. the short run or the long run. c. only the long run. d. never.