A monopolist's total profit is shown by the difference between price and average cost per unit times the number of units sold
a. True
b. False
Indicate whether the statement is true or false
True
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Assuming initially that the required reserve ratio = 10%, the currency-deposit ratio = 40%, and the excess reserve ratio = 0, a decrease in the required reserve ratio to 5% causes the M1 money multiplier to ________, everything else held constant
A) increase from 2.8 to 3.11 B) decrease from 3.11 to 2.8 C) increase from 2 to 2.22 D) decrease from 2.22 to 2
AIG almost went bankrupt in 2008 because
A) the value of the securities underlying its credit default swaps declined significantly. B) it lacked the collateral required by buyers of its credit default swaps. C) prices of securities underlying their credit default swaps were hard to determine since they were no longer actively traded. D) all of the above.
The fewer alternative uses a resource has,
a. the greater the proportion of its earnings that is economic rent b. the smaller the proportion of its earnings that is economic rent c. the more elastic its supply d. the more elastic its demand e. the less elastic its supply
All else constant, an increase in the price of labor would cause the total amount of output that can be produced with a fixed amount of spending to ________. This would result in a movement to a ________ isoquant
A) increase; lower B) increase; higher C) decrease; lower D) decrease; higher