Refer to the above figure. The point at which saving equals zero is
A) only at point A.
B) to the left of point B.
C) only at point B.
D) to the right of point B.
Answer: C) only at point B.
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In a perfectly competitive market, the type of decision a firm has to make is different in the short run than in the long run. Which of the following is an example of a perfectly competitive firm's short-run decision?
A) the profit-maximizing level of output B) how much to spend on advertising and sales promotion C) what price to charge buyers for the product D) whether or not to enter or exit an industry E) whether or not to change its plant size
Which of the following is the latest short run operating target specified to the New York Fed by the FOMC directives?
a. The federal funds rate b. The primary lending rate c. Quantitative easing d. Legal reserves e. The bank rate