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In Exhibit 3-11, in Panel A the movement from point A to point B describes a(n):
A. increase in demand and an increase in the quantity supplied.
B. increase in the quantity demanded and an increase in supply.
C. decrease in demand and a decrease in the quantity supplied.
D. decrease in the quantity demanded and a decrease in supply.
Answer: C
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Use the figure below to answer the following question.
At equilibrium, consumer surplus would be represented by the area
A. a + b + c. B. b. C. a. D. a + b.
If Treasury deposits at the Fed are predicted to fall, the manager of the trading desk at the New York Fed bank will likely conduct ________ open market operations to ________ reserves
A) defensive; inject B) defensive; drain C) dynamic; inject D) dynamic; drain
The government uses the antitrust laws in place:
A. to prevent all mergers that would create market power. B. ineffectively because the laws are outdated. C. increasingly over time, as market power is getting more concentrated. D. to break up and prevent monopoly power in markets.
Which of the following is included in gross domestic product for an economy in a given year?
A) the value of used goods sold in that year B) the value of final goods produced in that year C) the value of intermediate goods produced in that year D) All of the above would be included in gross domestic product for an economy in a given year.