In a market, there are many firms selling differentiated products. This market is:
A. a monopoly.
B. an oligopolistic market.
C. a competitive market.
D. a monopolistically competitive market.
Answer: D
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Which is not one of the four basic questions used by economists to break down problems?
A. What do others think? B. What are the trade-offs? C. How will others respond? D. Why isn't everyone already doing it?
The profit maximizing level of output for this farmer is
A. 6.
B. 9.
C. 12.
D. 3.
Under the reasonable dynamic assumptions discussed in the text, a monetary contraction should result in
A) an immediate rise in the interest rate, and no further interest rate changes. B) an immediate rise in the interest rate, and then a fall in the interest rate over time. C) an immediate rise in the interest rate, and then a further rise over time. D) a very gradual but steady rise in the interest rate to its new equilibrium level. E) no change in the interest rate initially, and then a sudden rise to its new equilibrium value.
(Consider This) The implied risk-return point of a Ponzi scheme "asset":
A. lies well above the Security Market Line. B. lies well below the Security Market Line. C. lies far out to the right along the Security Market Line. D. lies at the intercept of the Security Market Line.