The value of resources devoted to rent seeking will
A) at most equal the monopoly's economic profit.
B) reduce deadweight loss.
C) reduce consumer surplus.
D) raise output to an efficient level.
A
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The supply of product X is unit-elastic if the price of X increases by ________ and, as a result of that price change, the quantity supplied ________
A. 8%; increases by 8%. B. 5%; increases by 7%. C. 7%; increases by 5%. D. 10%; stays the same.
If the reserve ratio is 0.3 and a deposit of $1,000 is made to the bank, the bank can lend out $700
Indicate whether the statement is true or false
The largest change in the unemployment rate from the beginning of a recession to the peak unemployment rate occurred during the recession beginning in:
A. 1980. B. 1973. C. 1929. D. 2007.
You turn to the bond market page of a newspaper and look under the column headed "Bonds" and see that it says, "Gemco 5 3/4 13" this indicates that
A) the coupon rate on this bond is 5.75 percent. B) this bond will mature 13 years from the date that it was first issued. C) the current yield on this bond is 5.75 percent. D) a and b E) all of the above