All of the following are characteristics of a perfectly competitive market EXCEPT
A) homogeneous products.
B) large number of buyers and sellers.
C) buyers and seller have equal access to information.
D) high barriers to entry and exit.
D
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Social Security is an example of
a. a transfer payment b. a Federal Reserve mandate c. a block grant d. private insurance e. debt interest
The CEO of a company repeatedly highlighted the performance of its rivals before introducing a proposal that required a major change in the organizational architecture. This implies that in marketing his proposal, he:
A. used force and coercion. B. relied on reputation. C. indulged in unethical business practices. D. emphasized a crisis.
The concept that increases in spending cause larger increases in equilibrium GDP is known as the
a. profiler. b. mystifier. c. multiplier. d. depreciator.
Without reinsurance, insurance companies would be less likely to insure
A. against auto accidents. B. against home fires. C. against home burglaries. D. homes in hurricane prone areas.