Decreasing the required reserve ratio is an expansionary policy because it increases the amount of excess reserves in the banking system

What is the intuition that an expansion of an individual's budget set represents a gain?

A) More options are preferred to less. B) Money is the root of all happiness. C) Information is power. D) Scarcity is avoidable with prosperity.

The kinked demand curve model of oligopoly explains why oligopoly

a. firms cannot maximize their profits b. firms do not lower prices to increase market share c. firms tend to increase price d. firms tend to decrease price to their minimum ATC e. tends to generate a higher economic profit than in any other market structure