Price leadership works only if there is a single, dominant firm in the oligopoly.

A major characteristic of monopoly is

A) a single seller of a product. B) multiple sellers of a product. C) two sellers of a product. D) a few sellers of differentiated products. E) a few sellers of an identical product.

The discount rate is the interest rate that: a. banks charge on large loans

b. banks charge on loans to other banks. c. the Fed charges on loans to branches of the U.S. government. d. the Fed charges on loans to depository institutions. e. the Fed charges on loans to the public.