A monopoly:
a. faces the market demand curve which is downward sloping.
b. has a marginal revenue curve which slopes downward and lies below its demand curve.
c. will maximize profits by producing an output level where MR = MC.
d. all of these.
d
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Suppose the demand for money becomes less sensitive to changes in the interest rate
In moving along an LM curve, an increase in income must be accompanied by a ________ change in the interest rate than before, meaning that the LM curve has become ________. A) greater, steeper B) greater, flatter C) smaller, steeper D) smaller, flatter
The financial system is primarily a means by which
A) funds are transferred from savers to borrowers. B) money is put into circulation. C) the government puts into operation its plans for the economy. D) business firms distribute their goods.