Contractual savings institutions include
A) mutual savings banks.
B) money market mutual funds.
C) commercial banks.
D) life insurance companies.
D
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Barriers to entry
a. prevent monopolies from earning profit in the long run b. prevent monopolies from earning profit in the short run c. may allow monopolies to earn profit in the long run d. prevent government from regulating a monopoly e. prevent a natural monopoly from raising its price
Which of the following can make it very difficult for monetary policy to address a recession?
a. velocity b. inflation c. deflation d. aggregate demand
The potential output of an economy is the level of output produced when the
a. real wage equals the nominal wage. b. price level is constant. c. expected real wage equals the inflation rate. d. expected price level equals the unemployment rate. e. expected price level equals the actual price level.
All else equal, what happens to consumer surplus if the price of a good increases?
a. Consumer surplus increases. b. Consumer surplus decreases. c. Consumer surplus is unchanged. d. Consumer surplus may increase, decrease, or remain unchanged.