The Fed's two main monetary policy targets are
A) the interest rate and real GDP. B) the money supply and the interest rate.
C) the money supply and the inflation rate. D) the inflation rate and real GDP.
B
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The equilibrium price of a good sold in a competitive market is $10. If an individual firm decides to sell its product at a price higher than $10, ________
A) the firm's profits will increase B) the firm's revenue will increase C) the firm will lose all its consumers D) the firm's cost of production will decrease
A society is productive inefficient when
A) it produces at a point inside (below) its PPF. B) it does not produce the maximum output with its given resources and technology. C) it can produce more of one good without giving up some of another good. D) both a and b E) all of the above