____ is defined as the value of a households assists minus the value of its liabilities
Fill in the blank(s) with the appropriate word(s).
household wealth
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Increases in autonomous expenditure induce ________ in aggregate expenditure thereby making the multiplier ________
A) further increases; greater than one B) further increases; unnecessary C) further increases; less than one D) a decrease; less than one E) a decrease; greater than one
Banks can make loans up to an amount equal to their
A) total deposits. B) total reserves. C) required reserves. D) excess reserves. E) total government securities.
Which of the following statements regarding a marginal-cost pricing rule for a natural monopoly is WRONG?
A) It maximizes total surplus in a regulated industry. B) The firm produces the efficient quantity. C) The firm's price equals its marginal cost. D) The firm makes an economic profit.
If the natural monopoly shown in the figure above is unregulated, then it will charge a price of
A) $2. B) $4. C) $5. D) $6.