The firm in the above figure has a markup of ________ per meal
A) $0
B) $4
C) $8
D) $10
E) more than $10
B
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If the Fed was to use all of its three most common tools to increase the money supply, it would:
a. buy bonds, reduce the discount rate, and reduce reserve requirements. b. sell bonds, reduce the discount rate, and reduce reserve requirements. c. sell bonds, reduce the discount rate, and increase reserve requirements. d. sell bonds, increase the discount rate, and increase reserve requirements.
Prospect theory in behavioral economics predicts that as the price of flour increases, bakeries will try to avoid turning off their buyers by:
A. Increasing the unit prices of their products B. Reducing the unit sizes of their products C. Producing more units of their products D. Passively accepting lower profits