The Federal Reserve System can be described as a bank for bankers
a. True
b. False
Indicate whether the statement is true or false
True
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If aggregated demand is less than actual output, unplanned inventory ________ will cause output to ________
A) accumulation; rise B) depletion; fall C) depletion; rise D) accumulation; fall
Crowding out can occur when public insurance crowds out private insurance.
A. True B. False C. Uncertain
A price excludable public good is such that
A. both rivalry and exclusivity hold. B. exclusivity holds, but rivalry does not. C. neither rivalry nor exclusivity hold. D. rivalry holds, but exclusivity does not.
Consider a Cournot oligopoly consisting of five identical firms producing good X. If the firms produce good X at a marginal cost of $7 per unit and the market elasticity of demand is ?3, determine the profit-maximizing price.
A. $7 per unit B. $5.25 per unit C. $4.20 per unit D. $7.50 per unit