Let's use the example from the text: The Nick Rudd Ice Company is a monopoly. Its goal, then, is to
a. hire as many workers as possible
b. maximize profit
c. produce as much as possible to capture market share
d. produce where marginal cost equals price
e. charge the highest price possible
B
Economics
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If the Federal Reserve sells $20 million worth of government securities and the M1 multiplier is 2.5. Bank reserves will
A) fall by $20 million. B) fall by $50 million. C) fall by $16 million. D) fall by $8 million.
Economics
In the figure above, assume that output is $10.5 trillion, while potential output is $12 trillion
If autonomous monetary policy (alone) is used to bring output to $12 trillion, then the figure implies that the real interest rate will be ________ percent, and the inflation rate will be one percent. A) 1.5 B) zero C) one D) 0.5 E) 2.5
Economics