Which of the following groups would most likely be harmed by inflation?
a. workers
b. borrowers
c. debtors
d. retirees
d
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If the Fed wishes to decrease the money supply it could
a. decrease the discount rate. b. decrease reserve requirements. c. sell government securities on the open market. d. Do any of the above.
Discuss the following views concerning the impact of monetary policy:
a. classicals b. Keynesians c. monetarists d. "modern view"
A monopoly:
A. faces competition from other firms producing close substitutes. B. is a price taker. C. sets a low price by controlling the level of output. D. restricts its output.
A movie theater is a price-discriminating monopolist and charges a higher ticket price for late-evening showings. From this we know that:
A. late-evening moviegoers have less elastic demands than daytime or early-evening moviegoers. B. late-evening moviegoers have perfectly inelastic demand schedules. C. late-evening moviegoers have more elastic demands than daytime or early-evening moviegoers. D. daytime and early-evening moviegoers have perfectly elastic demands.