A market with a large number of sellers
A) can only be a perfectly competitive market.
B) might be an oligopoly or a perfectly competitive market.
C) might be a monopolistically competitive or a perfectly competitive market.
D) might be a perfectly competitive, monopolistically competitive, oligopoly, or monopoly market.
E) can only be a monopolistically competitive market.
C
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If the unemployment rate increases from 4 percent to 10 percent, then the economy is mostly likely in a(n):
A. expansion. B. boom. C. aggregation. D. recession.
Some countries have economies that are extremely market-oriented, while other countries have ___________ economies.
a. private b. textile c. command d. internal
If the U.S. government decided to pay off the national debt by creating money, what would be the most likely effect?
a. a substantial reduction in real GDP b. a deflationary collapse c. rapid inflation d. an increase in the trade surplus
If the government imposes a maximum price on rental apartments that is below the equilibrium price, we can expect to see all of the following except:
A. landlords doing less maintenance to their rental units. B. new apartment units being built. C. renters spending more time searching for apartments. D. some building owners converting their apartments to condominiums.