Consider a firm with the following cost and revenue information: ATC = $8, AVC = $7, and MR = MC = $6. If the firm produces Q = 60 in the short run, it:

Which of the following pairs of lags are typically shorter for monetary policy than for fiscal policy?

a. The recognition lag and the implementation lag b. The effectiveness lag and the decision-making lag c. The decision-making lag and the implementation lag d. The implementation lag and the effectiveness lag e. The recognition lag and the effectiveness lag

If a commercial bank holds 8 percent of deposits as reserves, then the value of money multiplier will be equal to 8

a. True b. False Indicate whether the statement is true or false