At any quantity at which the demand curve lies above the supply curve,
a. economic efficiency is achieved
b. the cost of producing the last unit exceeds its value to some consumer
c. marginal cost exceeds the market price
d. the market is Pareto efficient
e. the value of the last unit to some consumer exceeds the cost of producing it
E
Economics
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Which of the following would cause the money supply to increase?
a. An open market purchase by the Fed. b. A reduction in the discount rate. c. A reduction in required ratios. d. All of these.
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Policy directives used by the Fed to moderate swings in the business cycle are considered
a. moderating fiscal policy b. countercyclical monetary policy c. accelerating monetary policy d. reserve requirement rates e. federal funds policy
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