An increase in the required reserve ratio by the Federal Reserve would:
a. cause M1 to contract.
b. cause M1 to expand.
c. have no effect on M1 or M2.
d. affect only M2, not M1.
a
Economics
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Competition would probably be abolished if society could find a way to abolish
A) inequality. B) scarcity. C) money. D) economists.
Economics
You are the manager of a firm that sells its product in a competitive market at a price of $60. Your firm's cost function is C = 33 + 3Q2. The profit-maximizing output for your firm is:
A. 10. B. 6. C. 5. D. 3.
Economics