In order to change the money supply, the Fed might use which of the following tools?
A. Dual mandate
B. Reserve requirement
C. Fiscal policy
D. Deficit spending
B. Reserve requirement
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Among the following situations, which one is least likely to apply to a monopolistically competitive firm?
a. profit is positive in the short run b. total cost exceeds total revenue in the short run c. profit is positive in the long run d. total revenue equals total cost in the long run
Figure 2-3
Which point in is not possible for this society to produce?
a.
A
b.
B
c.
C
d.
D
e.
E
A single firm that charges the monopoly price in the market earns $600. If another firm successfully enters the market, the incumbent's profits fall to $350 and the entrant earns $275. If the incumbent engages in limit pricing, its profits are $400. For what interest rate, i, is limit pricing a profitable strategy for the incumbent?
A. 0.25 < i < 0.75 B. i > 4 C. i < 0.25 D. 0.75 < i < 4
The slowing rate of population growth in the US after 2000 (from 1.8% per year to 0.9% per year)
A. was a significant reason behind the slowing of economic growth during that period. B. should have been a source of growth but wasn't. C. was entirely countered by an opposite trend in immigration so growth, was nearly zero. D. was more than countered by an opposite trend in immigration so growth, was robust.