The basic money supply:
A. Is controlled by Congress and the U.S. Treasury.
B. Includes savings accounts.
C. Includes currency and transactions accounts.
D. Includes money market mutual funds.
C. Includes currency and transactions accounts.
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What would happen in the market for prescription drugs if people begin to view over-the-counter remedies as a good substitute for prescription medications?
A) Prescription medications will become an inferior good. B) There is an upward movement along the demand curve for prescription medications. C) There is a downward movement along the demand curve for prescription medications. D) The demand for prescription medications will decrease.
In a Cournot equilibrium, each firm chooses an output level that
a. maximizes joint profits. b. maximizes the price received. c. maximizes profits given what the other firm produces. d. maximizes revenue given what the other firm produces.