Answer the following questions true (T) or false (F)
1. Monetary policy is conducted by the U.S. Treasury Department.
2. Maintaining a strong dollar in international currency markets is not one of the four monetary policy goals of the Fed listed in the textbook.
3. The Fed can directly lower the inflation rate.
1. FALSE
2. TRUE
3. FALSE
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Historically, empirical evidence showed that it was more cost effective to have a single generator of electricity serve a particular region's electricity needs than to have several smaller units compete against each other
More recently, technological advances have occurred in the generation of electricity that allow much smaller generating units to produce electricity for the same average cost as much larger units. Explain how this change would be reflected in the firm's long-run average cost curve and minimum efficient scale.
The slope of a vertical straight line is infinity
a. True b. False