A monopoly firm
A. has a short-run supply curve that slopes upward.
B. is a price taker.
C. does not have a supply curve.
D. is at the mercy of the market-determined price.
Answer: C
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Refer to Figure 9-3. What is the area of domestic producer surplus after the imposition of a quota?
A) B + C B) B + E + I + J + M C) B D) E + I + J + M
Because of the adverse selection problem
A) good credit risks are more likely to seek loans causing lenders to make a disproportionate amount of loans to good credit risks. B) lenders may refuse loans to individuals with high net worth, because of their greater proclivity to "skip town." C) lenders are reluctant to make loans that are not secured by collateral. D) lenders will write debt contracts that restrict certain activities of borrowers.
Suppose the nominal exchange rate rises from 82 to 90. The domestic currency has appreciated by ________ percent
A) ten B) nine C) eight D) 86
When the Fed lowered the discount rate in late 2008, the action was ultimately designed to:
A. decrease the monetary base. B. increase the money supply. C. increase the prime rate. D. increase the reserve requirement.