Which of the following is false?
A. The monopolist and perfect competitor both produce where MC equals MR.
B. A monopoly is a firm that produces all the output in an industry.
C. If a monopolist is losing money, it is in the long run.
D. Price is read off the demand curve for the monopolist.
C. If a monopolist is losing money, it is in the long run.
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The "gifts of nature" are included as part of which factor of production?
A) labor B) land C) capital D) entrepreneurship
If enforcement is aimed at sellers of an illegal good, its equilibrium price will ________ and its equilibrium quantity will ________
A) rise; increase B) rise; decrease C) fall; increase D) fall; decrease
At low levels of employment, the Keynesian aggregate supply curve
a. is downward sloping b. is upward sloping c. is vertical d. is horizontal e. is zero
Suppose the Fed sells $100 million of U.S. securities to the public. If the reserve requirement is 20 percent, the currency holdings of the public are unchanged, and banks have zero excess reserves both before and after the transaction, the total impact on the money supply will be a
a. $100 million decrease. b. $500 million increase. c. $500 million decrease. d. $100 million increase.