An agency that regulates product markets is the
A) Equal Employment Opportunity Commission.
B) Environmental Protection Agency.
C) Federal Trade Commission.
D) Occupational Safety and Health Administration.
C
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A monopolistically competitive market can also be:
A. perfectly competitive market. B. a monopoly. C. an oligopoly. D. All of the above.
When a negative externality is present in a market, the quantity consumed:
A. is always less than the socially optimal quantity. B. is more than the socially optimal quantity. C. is the same as the socially optimal quantity. D. is often less than the socially optimal quantity.
Place point X on the graph to indicate an unemployment rate of 10 percent.
A change in the reserve requirement is the tool used least often by the Fed because it:
A. Does not affect bank reserves. B. Can cause abrupt changes in the money supply. C. Does not affect the money multiplier. D. Has no impact on the lending capacity of the banking system.