Real-world market structures tend to be:
A. monopolies.
B. perfectly competitive.
C. oligarchies.
D. between monopolistically competitive and oligopolistic.
Answer: D
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The United States balance of payments accounts
a. records all earnings from the foreign activities of U.S. residents. b. records all expenditures of U.S. citizens' abroad. c. records all earnings from the foreign activities of foreign governments. d. Both a and b e. All of the above
The nominal price of milk was $2.25 in 1998 while the CPI was 163.0 that year. Also, the CPI in 1970 was 38.8. What was the real value of 1998 milk in terms of 1970 dollars?
What will be an ideal response?
Which of the following expenditures would be counted as consumption in GDP accounts? a. Mary buys a new home computer to check her e-mail and play computer games. b. Mark buys a new computer for his medical economic consulting business
c. Leslie, an EPA scientist, buys a new computer for her lab at work. d. Juan leases a new computer for his graphic design company.
Which of the following is not an example of Joel Waldfogel's "Tyranny of the Market"?
a. A daily newspaper tailored to appeal to the majority of readers in an area. b. Nike creating specialized shoes for American Indians' wider feet. c. Pharmaceutical companies spending research and development funds on drugs for common diseases. d. Airlines offering daily direct flights from one large city to another.