If the Fed had not changed the money supply after the recession in the early 1990s, then the long run effects would have been
a. a return to the original output and price level
b. increased long run GDP equilibrium and price level
c. unchanged long run output, but an increased price level
d. a decreased long run output and price level
e. a return to the original long run output, but a decreased price level
A
Economics
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A monopoly:
a. faces the market demand curve which is downward sloping. b. has a marginal revenue curve which slopes downward and lies below its demand curve. c. will maximize profits by producing an output level where MR = MC. d. all of these.
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Market prices contain
A) some information. B) all information. C) only past information. D) a bias for old stocks.
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