Video rental stores in cities are an illustration of:
a. perfect competition.
b. monopolistic competition.
c. monopoly.
d. oligopoly.
b
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Assume that there is a 25% reserve requirement and that the Federal Reserve buys $200 million worth of government securities. If the securities are purchased from the public, then this action has the potential to increase bank lending by a maximum of ________.
A. $800 million, and also by $800 million if the securities are purchased directly from commercial banks B. $600 million, and also by $600 million if the securities are purchased directly from commercial banks C. $800 million, but only by $600 million if the securities are purchased directly from commercial banks D. $600 million, but by $800 million if the securities are purchased directly from commercial banks
If the equilibrium price of an airline ticket is $500 and the government imposes a price floor of $400 on airline tickets, then fewer airline tickets will be sold than at the market equilibrium
a. True b. False Indicate whether the statement is true or false
In the following graph, the price of capital is $12 per unit. If the price of labor is $30 per unit, the lowest possible cost of producing 200 units of output is
A. $4,000. B. $3,000. C. $1,200. D. $2,400. E. none of the above
Which statement is true?
A. The Federal Reserve has an excellent record as a "lender of last resort." B. There is little debate about whether or not the Federal Reserve Board should be independent. C. The power of the Federal Reserve is centered largely in its Board of Governors. D. The stockholders in the Federal Reserve receive large profits.