Use the following graphs to answer the next question.
Which of the above shows the correct relationship between demand and marginal revenue for a pure monopoly?
A. Graph 1
B. Graph 2
C. Graph 3
D. Graph 4
Answer: B
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With a required reserve ratio of 20 percent, an increase in reserves of $10,000 could lead to a maximum increase in checking account deposits in the entire banking system of
A) $2,000. B) $8,000. C) $50,000. D) $100,000.
An important difference between the demand for a private good and the demand for a public good is that
A) the resources used to provide public goods are common resources or government owned; the resources used to produce private goods are all privately owned. B) individuals reveal their preferences for a public good but they do not have to reveal their preferences a private good. C) the demand for a private good produces consumption externalities; the demand for a public good produces production externalities. D) individuals reveal their preferences for a private good but they do not have to reveal their preferences for a public good.
An increase in the price level ________ real wealth, which causes consumption to ________
A) lowers; decrease B) raises; decrease C) lowers; increase D) raises; increase
Leaders in underdeveloped countries can enhance development by
A. increasing population growth. B. reducing capital per worker. C. implementing improved technology. D. creating new natural resources.