Which of the following is always a characteristic of the oligopoly market structure?
a. Easy, low-cost entry and exit.
b. Few sellers.
c. All sellers produce identical products.
d. Many sellers, each small in size relative to the overall market.
b
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Which of the following is the most liquid asset?
A) currency B) shares of stock C) short-term treasury bonds D) small denomination time deposits
An economy has no imports or income taxes. The MPC is 0.75 and real GDP is $120 billion. Businesses increase investment by $4 billion. The multiplier is ________ and the change in real GDP from the increase in investment is ________ billion
A) 5; $16 B) 4; $25 C) 0.75; $3 D) 5; $25 E) 4; $16
National income
a. includes gross private domestic investment b. is the sum of all payments made to resource owners for the use of their resources in production c. includes all consumption expenditures d. is measured by C + I + G + (X – M) e. does not include proprietors' income
Which of the following would contribute to a United States current account surplus?
A. The United States makes a unilateral tariff reduction on imported goods. B. General Motors pays a dividend to a Swiss stockholder. C. The United States cuts back on American military personnel stationed in Germany. D. Russian vodka becomes increasingly popular in the United States.