Open-market operations generally involve the purchase and sales of
A. government securities.
B. stocks and bonds.
C. coins and currency.
D. Federal Reserve notes.
Answer: A
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Part of the appeal of gold as a medium of exchange is that it is indivisible
Indicate whether the statement is true or false
Graphically, diseconomies to scale are illustrated by
A. a downward sloping long-run average cost curve. B. a horizontal long-run average cost curve. C. an upward sloping long-run average cost curve. D. a long-run average cost curve that is shaped like an upside down U.
Use the following graph showing cost curves for a perfectly competitive firm to answer the next question.
If the market price decreases to $0.55, the profit-maximizing quantity of output is
A. 0. B. more than 20, but less than 35. C. 20. D. 15.
Refer to Figure 13-4. In the figure above, AD1, LRAS1 and SRAS1 denote AD, LRAS and SRAS in year 1, while AD2, LRAS2 and SRAS2 denote AD, LRAS and SRAS in year 2
Given the economy is at point A in year 1, what is the actual growth rate in GDP in year 2? A) 2.5% B) 7.3% C) 8.0% D) 10.0%