________ refers to the ability of sellers to affect market prices
A) Goodwill
B) Market hold
C) Market power
D) Capital adequacy
C
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What is the relationship between marginal revenue and average revenue for a monopolist and is it the same for a perfect competitor?
What will be an ideal response?
Large federal budget deficits: a. can best be reduced by automatic stabilizers
b. make it difficult to use discretionary fiscal policy. c. in the mid to late 1980s were the result of a severe recession. d. constitute only about 1 percent of GDP. e. have little to do with the growth of the federal debt.
Suppose that this graph describes the current labor market for high school teachers:
Given an initial wage of w*, then immediately following a decrease in supply:
A. the reservation wage of each remaining teacher will fall. B. there will be a shortage of high school teachers. C. there will be an excess supply of high school teachers. D. the equilibrium wage will fall.
A currency system in which exchange rates are determined in free markets is called a:
A. fixed exchange rate system. B. gold standard. C. flexible exchange rate system. D. All of these