If the Fed wants to reduce bank reserves, it can:
A. Raise the discount rate or buy bonds on the open market.
B. Reduce the minimum reserve ratio or sell bonds on the open market.
C. Raise the discount rate or sell bonds on the open market.
D. Decrease the minimum reserve ratio or reduce the discount rate.
C. Raise the discount rate or sell bonds on the open market.
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If a firm in a perfectly competitive market sells 100 units of output and total revenues are $500, which of the following statements are true? (i) Marginal revenue equals $5. (ii) Average revenue equals $5. (iii) Price equals $5
a. (i) only b. (iii) only c. (i) and (ii) only d. (i), (ii), and (iii)
Which of the following statements is true with respect to renewable natural resources?
a. There are infinite quantities of renewable resources. b. Proper management can only protect, not increase, the supply. c. Conservation and proper use can protect and even increase the supply of renewable resources. d. They cannot be completely destroyed since they can always regenerate. e. They cannot exist since this would violate the scarcity principle.