Which of the following allows monopolistically competitive firms to differentiate their products from competitors in a market?
a. Licensing
b. Forming cartels
c. Advertising
d. Patenting
c
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Monetary policy decisions are made by the
A) Federal Open Market Committee. B) Federal Reserve Economic Committee. C) Congress of the United States. D) U.S. Mint. E) Council of Economic Advisors.
If the government increases spending but does not raise taxes
A) aggregate demand will increase without any effect on the price level. B) borrowing by the government will take place. C) the government will have to sell some assets, such as oil and national parks. D) the government will have to either lower expenditures or raise taxes the next year.
In this graph for positive externalities in consumption, the efficient equilibrium point is at ______.
a. point A
b. point B
c. P1 and Q1
d. P2 and Q2
If the population increases, the market demand for most products will:
A. not change. B. decrease. C. increase. D. depend on supply.