Other things being equal, which market structure is most likely to yield the greatest industry long-run economic profit?
A. perfect competition
B. monopolistic competition
C. oligopoly
D. monopoly
Answer: D
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What is meant by the term "inflation targeting"? What is the Fed's objective regarding inflation?
What will be an ideal response?
Open market purchases ________ reserves and the monetary base thereby ________ the money supply
A) raise; lowering B) raise; raising C) lower; lowering D) lower; raising
Frictional unemployment is a sign of a healthy economy because
A. workers become more productive after taking vacations. B. economic growth remains steady. C. workers seek labor where they can provide the most value to their respective employer. D. wages fall, which forces workers to compete.
If actual GDP equals potential GDP, then:
A. the actual unemployment rate equals the natural rate of unemployment. B. the actual unemployment rate is less than the natural rate of unemployment. C. there is a recessionary gap. D. the actual unemployment rate is greater than the natural rate of unemployment.