A monopolist is a price maker who will lose some business if the price is increased.
Answer the following statement true (T) or false (F)
True
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A factor of production that cannot be used outside of a particular sector of an economy is a(an)
A) specific factor. B) mobile factor. C) variable factor. D) import-competing factor. E) export-competing factor.
If policymakers set a target for unemployment that is too low because it is less than the natural rate of unemployment, this can set the stage for a higher rate of money growth and
A) cost-push inflation. B) demand-pull inflation. C) cost-pull inflation. D) demand-push inflation.
If assets are relatively _____, and uncertainty is _____, transactions usually take place in markets
a. specific; quite low b. nonspecific; quite low c. specific; quite high d. nonspecific; quite high
Macroeconomic topics do not generally include: a. inflation
b. aggregate demand. c. government spending and taxation. d. the production decisions of individual firms.