How can the influence of a third variable be shown on a two-dimensional graph?
A) by allowing the position of the relationship line or curve to shift on the graph
B) by super-imposing the third variable on the two-dimensional graph
C) by drawing a third axis coming out of the two axes
D) by allowing the relationship to be nonlinear
A
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A government-imposed price floor has what effect on efficiency?
A. Consumer surplus increases. B. There is little dead weight loss. C. Consumer and producer surplus increases. D. Producer surplus increases.
For any firm, price always equals
a. average revenue. b. marginal revenue. c. marginal cost. d. marginal profit.
The kinked demand curve depicts
A. cut-throat competition. B. cartels. C. collusive oligopoly. D. price leadership.
The Depository Institutions Deregulation and Monetary Control Act of 1980 accomplished which one of the following reforms?
A. Established a uniform set of reserve requirements for all depository institutions. B. Established maximum and minimum interest rates which depository institutions were permitted to pay on checkable deposits. C. Shifted to the United States Treasury the responsibility for setting the discount rate. D. Provided presidential veto power over setting reserve requirements.