Command-and-control policies generally reduce pollution more than pollution taxes do.
Answer the following statement true (T) or false (F)
False
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For a monopolist with a linear demand curve, total revenue is maximum when:
a. marginal revenue is positive. b. marginal revenue is at its maximum. c. the price elasticity of demand is greater than unity. d. the price elasticity of demand is equal to unity. e. marginal revenue is at its minimum.
Refer to the following graph. The price of capital (r) is $20.
At the optimal combination of inputs for producing 14,000 units of output, what is the marginal rate of technical substitution?
A. 0.80 B. 2.5 C. 1.5 D. 0.67 E. impossible to tell from the graph
Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 cash deposit, then, excluding the $1,000 initial deposit, the banking system can increase the money supply by:
A. $900. B. $910. C. $1,000. D. $9,000.
A downward shift in the Fed's reaction function is equivalent to:
A. a decline in the Fed's long-term target for inflation. B. a downward shift of short-run aggregate supply. C. an upward shift of short-run aggregate supply. D. an increase in the Fed's long-term target for inflation.