When only a small number of producers compete with each other is a defining characteristic of
A) inelastic supply.
B) monopolistic competition.
C) efficient competition.
D) oligopoly.
D
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During the Kennedy administration, what did economist Walter Heller propose to bring the economy back to full employment?
A) tariffs on imported goods B) a large government works program C) tax cuts D) insourcing
The March 2000 "tech bubble" burst caused the aggregate demand curve to shift to the left by ________
A) causing an upward spike in the real interest rate B) reducing autonomous spending by households and businesses C) reducing government spending on high-tech equipment D) all of the above E) none of the above
Of the 6,000 settlers who migrated to Virginia since the founding of the first permanent settlement in 1607, nearly ________ had died by 1623
a. 5,500 b. 4,000 c. 2,500 d. 1,000
A rare coin dealer is likely to have a _______________ price elasticity of supply than does a coffee shop due to ____________________.
A. more elastic; the availability of inputs B. less elastic; the availability of inputs C. more elastic; a longer adjustment time D. more elastic; a shorter adjustment time