Capital goods
A) are a special type of consumption goods.
B) are consumed because they enhance the enjoyment consumers obtain from other goods and services.
C) are goods used to make consumer goods and services.
D) lead to inward shifts of a production possibilities curve.
C
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An oligopoly is a market structure in which there are
A) only a few buyers but many sellers. B) only a few sellers selling either an identical or differentiated product. C) many sellers selling a differentiated product. D) a few products sold by many sellers.
Unions, by nature, must ____ their membership in order to ____ wages
a. open; lower b. open; raise c. restrict; lower d. restrict; raise
One of President Obama's first policy initiatives was a stimulus bill that included large increases in government spending
a. True b. False Indicate whether the statement is true or false
Which of the following explains why the monetary policy implementation lag is relatively short?
I. The FOMC meets several times a year and policymakers are easily able to confer in between meetings. II. Open market operations, one of the Fed's policy instruments can be put into effect immediately. III. The Chairman of the Fed works in close collaboration with the President. IV. Most financial institutions are member banks and will not hesitate to put into effect any new monetary policy. A) I B) I and II C) I, II, and III D) I, II, III, and IV