When M1 is expanded to M2, the money supply:
a. almost doubles.
b. more than triples.
c. goes up tenfold in size.
d. changes very little.
e. goes up by 50 percent.
b
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What is perfect price discrimination and why do economists believe that no firm is able to practice perfect price discrimination?
What will be an ideal response?
Which of the following accurately describes the difference between an individual demand curve and a market demand curve?
a. A market demand curve focuses more on price than does an individual demand curve. b. A market demand curve focuses on a broader set of buyers than does an individual demand curve. c. A market demand curve focuses more on consumers than does an individual demand curve. d. A market demand curve focuses on a more specific area than does an individual demand curve.