Which one of the following is the best example of an oligopolistic industry?
A. cigarettes
B. wheat growers
C. apple growers
D. public utilities
Answer: A
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It has been observed that a change in monetary policy in the United States
A) has little or no effect on foreign markets. B) leads to corresponding changes in other countries. C) has only short run influences. D) impacts net exports.
The extra pay people earn in exchange for undertaking risky or otherwise undesirable work is called
A) a compensating differential. B) arbitrage income. C) overtime pay. D) a fringe benefit.
Not buying junk food while doing the weekly shopping and forcing an extra trip to the store to acquire it is an example of:
A. increasing the cost of a vice. B. a commitment device. C. how people compensate for time-inconsistent decisions. D. All of these are true.
If good X is an inferior good, a decrease in consumer income, other things being equal, will shift the:
a. demand curve for good X to the right. b. demand curve for good X to the left. c. supply curve for good X to the right. d. supply curve for good X to the left.