About ____ of the world's population subsists on no more than $2 a day.
A. one tenth.
B. one quarter.
C. one third.
D. one half.
D. one half.
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By changing its regulations, the Fed ___ force the banking system to reduce the money supply; by changing its regulations, the Fed ____ force the banking system to increase the money supply:
a. Can; can b. Can; cannot c. Cannot; can d. Cannot; cannot.
Your friend notices that U.S. auto production and U.S. population growth have moved together over several decades. He reasons that one way to slow population growth is for the government to order the auto makers to cut back on production. You gently point out to him that he
a. is correct only when the economy is in a recession b. has mistakenly inferred causation from observed correlation c. has ignored secondary effects d. has committed the fallacy of composition e. is correct only when the United States enjoys economic growth
At any point where a monopolist's marginal revenue is positive, the downward-sloping straight-line demand curve is:
A. perfectly elastic, as is the perfectly competitive firm's. B. elastic but not perfectly elastic, and a perfectly competitive firm's demand curve is perfectly elastic. C. elastic but not perfectly elastic, as is the perfectly competitive firm's. D. inelastic, while a perfectly competitive firm's demand curve is perfectly elastic.
The marginal revenue curve of a monopolistically competitive firm will always lie:
A. below the firm's demand curve. B. parallel to the firm's demand curve. C. parallel to the firm's quantity axis. D. above the firm's demand curve.