The Federal Reserve provides gold in exchange for Federal Reserve notes
a. True
b. False
Indicate whether the statement is true or false
False
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Everything else remaining unchanged, what is likely to happen to the equilibrium real interest rate and quantity of credit if the credit demand curve shifts to the left?
A) Both equilibrium rate of interest and quantity of credit will decrease. B) Both equilibrium rate of interest and quantity of credit will increase. C) The equilibrium rate of interest will decrease and the quantity of credit will increase. D) The equilibrium rate of interest will increase and the quantity of credit will decrease.
The above figure shows the demand and cost curves for a monopolistically competitive firm in the long run. The maximum economic profit this firm can make equal equals
A) $0. B) $80. C) $120. D) $160.