The Federal Open Market Committee is important because
a. its deliberations are extremely private
b. it sets the course for the nation's money supply
c. it is composed of people who are most knowledgeable about the economy
d. it discusses unemployment and inflation
e. of its influence on fiscal policy
B
Economics
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Refer to Figure 15-12. What is the amount of consumer surplus if, instead of monopoly, the industry was organized as a perfectly competitive industry?
A) $21 B) $124 C) $186 D) $332
Economics
Refer to the diagram. If price falls from $10 to $2, total revenue:
A. rises from A + B to A + B + D + C and demand is elastic.
B. falls from A + D to B + C and demand is inelastic.
C. rises from C + D to B + A and demand is elastic.
D. falls from A + B to B + C and demand is inelastic.
Economics