The supply curve of a single-price monopolist
a. coincides with its marginal cost curve above its average total cost curve
b. coincides with its marginal cost curve above its average variable cost curve
c. is established by the government
d. slopes downward due to substantial economies of scale
e. does not exist
E
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A corporation's board of directors
A) are the sole owners of the corporation. B) hire the managers of the corporation. C) are personally liable for the debts of the corporation. D) control the day-to-day activities of the corporation.
How will the purchase of $100 million of government securities by the Federal Reserve change bank reserves and total checking account deposits in the banking system as a whole? Assume that banks do not hold any excess reserves, that households and
firms do not change the amount of currency they hold, and that the required reserve ratio is 20 percent.