From society's viewpoint, a monopolist produces ________ because price is ________ marginal cost.
A. too little; greater than
B. too much; less than
C. too little; less than
D. too much; greater than
Answer: A
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If the economy's real GDP is growing at 3 percent each year and velocity is constant, for the price level to increase:
a. the money supply would have to grow at more than 3 percent per year. b. the money supply would have to grow at exactly 3 percent per year. c. the money supply would have to grow at less than 3 percent per year. d. the money supply would have to remain stable.
At the beginning of the fall semester, college towns experience large increases in their populations, causing a(n):
A. decrease in the quantity of apartments supplied. B. increase in the demand for apartments. C. increase in the supply of apartments. D. decrease in the quantity of apartments demanded.
Good customer service leads to customer satisfaction and loyalty. What are the operational targets your logistics system needs to provide?
a. Product availability b. Timely delivery c. Transparency d. Protection against disruption e. All of the above
Suppose a typical household holds $500 when the interest rate is 2 percent. When the interest rate rises to 3 percent, the household would most likely hold
A. more money because the opportunity cost of holding money is lower. B. more money because the opportunity cost of holding money is higher. C. less money because the opportunity cost of holding money is lower. D. less money because the opportunity cost of holding money is higher.