Refer to the information provided in Figure 28.8 below to answer the question(s) that follow.
Figure 28.8Refer to Figure 28.8. Along SRPC2, expected inflation equals
A. 4%.
B. 5%.
C. 6%.
D. cannot be determined from the figure.
Answer: C
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The appropriate monetary policy in the event of a recessionary gap would be to
A) raise the required reserve ratio. B) increase the difference between the federal funds rate and the required reserve ratio. C) engage in an open market purchase of U.S. government securities. D) increase the difference between the discount rate and the federal funds rate.
A decrease in the U.S. price level, other things constant, will _____
a. stimulate U.S. exports, pushing the aggregate demand curve to the right b. stimulate U.S. imports, pushing the aggregate demand curve to the right c. stimulate U.S. exports but discourage imports, causing a downward movement along a given aggregate demand curve d. discourage U.S. exports but stimulate imports, causing an upward movement along a given aggregate demand curve e. not affect U.S. net exports, so the aggregate quantity demanded will remain constant
X-inefficiency refers to a situation in which a firm:
A. is not as technologically progressive as it might be. B. encounters diseconomies of scale. C. fails to realize all existing economies of scale. D. fails to achieve the minimum average total costs attainable at each level of output.
The major distinguishing characteristic of oligopoly is that
A. firms can influence the price of their product. B. entry into the industry easy. C. firms produce differentiated products. D. firms are interdependent.