Suppose an industry has 100 firms, each with supply curve P = 50 + 10Q. Furthermore, suppose the market demand curve is given by P = 200 - 0.9Q. How many units of output will be produced by a firm operating in this market with a MC = 130Q?

What was one reason the U.S government started a Federal Reserve system?

(A) To keep the banking power of the United States spread out among various districts. (B) To have a place for banks to deposit their excess deposits. (C) To provide consumers with access to funds for business expansion. (D) To make sure that the U.S. banks were obeying laws regarding banking.

Which of the following will cause an increase in the debt-to-GDP ratio?

A) a reduction in the real interest rate B) a reduction in the ratio of the primary deficit to GDP C) a reduction in the growth rate of output D) all of the above