Which of the following is not a characteristic of pure competition?
A. Price strategies by firms.
B. A standardized product.
C. No barriers to entry.
D. A larger number of sellers.
Answer: A
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The difference of rate-sensitive liabilities and rate-sensitive assets is known as the
A) duration. B) interest-sensitivity index. C) rate-risk index. D) gap.
Some economists argue that policymakers can use monetary and fiscal policy to reduce the severity of economic fluctuations. In practice, however, there are obstacles to the use of such policies. What are the primary difficulties with using monetary and fiscal policy to stabilize the economy?
(Last Word) Based on the concept of price elasticity of demand, which of the following cases is most likely to occur?
A. Golf courses charging higher prices for golf during the week than on weekends. B. Movie theaters charging higher prices for senior citizens. C. Colleges charging lower tuition for low-income students. D. Airlines charging lower fares for business travelers.
One advantage of automatic fiscal policy over discretionary fiscal policy is that automatic fiscal policy:
A. Makes the actual budget a better reflection of the condition of the economy than the Standardized budget B. Does not produce a cyclical deficit as discretionary policy does C. Is not subject to the timing problems of discretionary policy D. Has a greater multiplier effect than discretionary policy