If you are told that the blue cheese market on the moon is a monopoly, you would know that there
a. is only one seller of the blue cheese produced on the moon
b. is only one buyer of the blue cheese produced on the moon
c. is only blue cheese on the moon
d. are close substitutes for blue cheese on the moon
e. are only a few producers on the moon
A
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Which of the following is the most frequently used tool of monetary policy?
A. Changing the discount rate B. Changing reserve requirements C. Open-market operations D. Interest rate changes
An auto rental company lowers the price of its rentals to increase its market share. The price cut increases quantity demanded, but total revenue decreases. This result suggests that over this price range, the demand for the auto rentals is:
A. unit elastic. B. inelastic. C. elastic. D. perfectly elastic.
Suppose the wage rate in a certain industry rises, and firms hire fewer workers. The best explanation of this is that labor:
A. demand fell. B. demand increased. C. supply fell. D. supply increased.
In the United States in 2014, over 90 percent of people without health insurance were below the age of 35
Indicate whether the statement is true or false