If the current level of GDP exceeds full employment, the level of GDP can be reduced by

The rate of interest banks charge each other for lending reserves is the:

A. Federal funds rate. B. Discount rate. C. Money multiplier. D. Excess reserve rate.

Which of the following is most likely to occur if a cartel does not find an acceptable way to allocate sales among its members?

A) Output will decrease. B) Prices will rise. C) Selling costs will increase. D) The marginal costs of individual members will rise above their marginal revenue.