The firm’s demand curve is horizontal no matter what its output is because it ______.
a. can influence the market price determined mostly by the low market output
b. must accept the market price determined by the intersection of the market supply and demand curve
c. can influence the market price determined by the intersection of the market supply and demand curve
d. must accept the market price determined mostly by the high market output
b. must accept the market price determined by the intersection of the market supply and demand curve
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The public choice model asserts that the self-interest of policymakers is likely to cause them to take actions that are inconsistent with the preferences of voters, even where those preferences are clear
Indicate whether the statement is true or false
No matter what banks do, when the legal reserve requirement is 20 percent, the potential money multiplier is
a. 0.2 b. 1.2 c. 2 d. 2.5 e. 5