Oligopoly is a situation when there
A) is one firm in the industry that is large relative to the size of the economy.
B) are a few large firms in the industry.
C) are too many firms in the industry and there is excess capacity.
D) is one large firm and many smaller firms forming a competitive fringe.
Answer: B
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Which of the following changes will cause a downward movement along the demand curve for reserves?
A) A decrease in deposits held by banks B) A decrease in the federal funds rate C) An increase in deposits held by banks D) An increase in the federal funds rate
The Long-run average total cost:
A. will rise if there are economies of scale B. assumes all inputs are variable C. will fall under the assumption of diseconomies of scale D. will be a flat line if there are economies of scale
According to the neoclassical growth model, economic growth occurs because of
a. increasing returns to scale. b. exogenous increases in technology. c. international trade that can increase knowledge. d. government policy which encourages savings. e. all of the above.
The main proponent of the conservative view on poverty is
A. William Julius Wilson. B. Barbara Ehrenreich. C. Charles Murray. D. Nicholas Lemann.