The most common form of nonprice competition is
A. Advertising.
B. Predatory pricing.
C. Patents.
D. Collusion.
Answer: A
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The model of expectations in which the current level of inflation depends on past levels is referred to as:
A) realized real expectations. B) adaptive expectations. C) rational expectations. D) composite expectations.
The income transferred by the government from a citizen who is earning income to another citizen is referred to as:
a. fiscal spending. b. transfer payment. c. budgetary allowance. d. taxation. e. internal debt.
Banks make additional loans when desired reserves
a) exceed actual reserves, a situation of positive excess reserves. b) are less than actual reserves, a situation of positive excess reserves. c) exceed actual reserves, a situation of negative excess reserves. d) are less than actual reserves, a situation of negative excess reserves.
If an external cost exists, then who bears the external cost in an unregulated competitive market transaction?
A) nobody B) the federal government C) someone other than the producers D) the buyers of the product