Which of the following represent the Federal Reserve's most important responsibilities?
a. Supervise and regulate banks.
b. Issuing paper currency.
c. Printing paper currency.
d. Both (a) and (b)
e. Deciding the maximum rate banks can charge for loans.
D
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The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. What is the marginal utility per dollar from magazines when the sixth magazine is purchased?
A) 36 units B) 15 units C) 9 units D) 5 units
Is a monopolistically competitive firm allocatively efficient?
A) No, because it does not produce at minimum average total cost. B) Yes, because price equals average total cost. C) No, because price is greater than marginal cost. D) Yes, because it produces where marginal cost equals marginal revenue.
The decline in wholesale and consumer prices in 1929–30 was not as large as had been the decline in 1920–21
Indicate whether the statement is true or false
Historically, price discrimination was considered illegal in all instances. More recently, antitrust authorities have discovered that
A) price discrimination can increase the coverage of a market thereby increasing welfare. B) price discrimination limits the coverage of a market thereby increasing welfare. C) price discrimination limits the coverage of a market thereby decreasing welfare. D) price discrimination can increase the coverage of a market thereby decreasing welfare.