Which of the following is an example of monetary policy?
a. Regulating financial capital markets
b. Decreasing the tax rate
c. Increasing the amount of government spending
d. Regulating factors of production
a
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Refer to Table 14-1. Is there a dominant strategy for Godrickporter and if so, what is it?
A) Yes, Godrickporter should increase its advertising budget. B) Yes, Godrickporter should not change its advertising budget. C) Yes, Godrickporter's dominant strategy is to collude with Star Connections. D) No, its outcome depends on what Star Connections does.
Which of the following is true of marginal revenue for a monopolist that charges a single price?
a. P = MR because there are no close substitutes for the monopolist's product. b. P > MR because the monopolist must decrease price on all units sold in order to sell an additional unit. c. P < MR because the monopolist must decrease price on all units sold in order to sell an additional unit. d. P = MR only at the profit-maximizing quantity.
Refer to the graphs shown. The arrow that would best illustrate the impact on consumers of reducing sales tax on a good paid by suppliers is:
A. A. B. B. C. C. D. D.
Based on the graph below, what is the difference between the purely competitive equilibrium level of output and the pure monopoly equilibrium level of output?
A. 20
B. 70
C. 90
D. 110