Advertising by the monopolist
a. is not done because the monopolist has the only supply of the product and doesn't need to advertise.
b. would have the effect of shifting its demand curve to the left.
c. may lead to expanded production by the monopolist.
d. makes no sense because there are no substitute commodities available to consumers.
c
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An exchange rate of $1 = 0.89 euro means that:
a) it takes 89 euros to buy $1. b) 1 euro will buy $0.89. c) $1 can buy 0.89 euros. d) $0.89 exchanges for 1 euro.
From an initial long-run macroeconomic equilibrium, if the Federal Reserve anticipated that next year aggregate demand would grow significantly slower than long-run aggregate supply, then the Federal Reserve would most likely
A) decrease interest rates. B) decrease income tax rates. C) increase interest rates. D) increase income tax rates.