The college textbooks market is an example of
A) perfect competition.
B) oligopoly.
C) monopoly.
D) monopolistic competition.
Answer: B
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Suppose there is a rise in the real wage rate. As a result, the quantity of labor demanded
A) increases. B) decreases. C) does not change because there is no change in the money wage rate. D) increases only if the price level also decreases.
The idea that consumers will not consistently discount the future over time is known as ________
A) intertemporal choice B) tertiary inversion C) hyperbolic discounting D) antediluvian Machiavellianism
Gains in railroad productivity were caused by:
a. more powerful locomotives. b. automatic couplers. c. air brakes. d. All of the above are correct. e. Only a and b are correct.
The difference between fiscal policy and monetary policy is that
a. fiscal policy is macroeconomic policy and monetary policy is microeconomic policy b. monetary policy is macroeconomic policy and fiscal policy is microeconomic policy c. fiscal policy involves regulation of natural monopolies and monetary policy involves the provision of public goods d. monetary policy involves regulation of the money supply and fiscal policy involves government spending and taxing e. fiscal policy involves the promotion of competition and monetary policy involves collecting money to pay for taxes