Relative to a competitively organized industry, a monopoly is more likely to produce
A. more output, charge higher prices, and earn economic profits.
B. less output, charge lower prices, and earn economic profits.
C. less output, charge lower prices, and earn only a normal profit.
D. less output, charge higher price, and earn economic profits.
Answer: D
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Indicate whether the statement is true or false
Assuming initially that the required reserve ratio = 15%, the currency-deposit ratio = 40%, and the excess reserve ratio = 5%, an increase in the excess reserve ratio to 10% causes the M1 money multiplier to ________, everything else held constant
A) increase from 2.15 to 2.33 B) decrease from 2.33 to 2.15 C) increase from 1.54 to 1.67 D) decrease from 1.67 to 1.54
The food stamp program was started to _____
a. increase demand for agricultural products b. reduce poverty c. provide better nutrition for low-income individuals d. a and c
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Answer the following statement true (T) or false (F)