Which of the following is NOT a characteristic of monopolistic competition?
A. Some degree of control over price
B. A tendency to rely on non-price competition
C. A horizontal demand curve
D. Some degree of product differentiation
C. A horizontal demand curve
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During the 1990s, the money multipliers for M1 and M2:
A. increased dramatically as the economy grew. B. remained fairly constant even though the economy grew. C. decreased. D. the M1 multiplier decreased while the M2 multiplier increased dramatically.
Define “supply.”
Please provide the best answer for the statement.
If the steady-state capital—labor ratio is equal to the Golden Rule capital—labor ratio, then in the steady state
A) output per worker equals investment per worker. B) output per worker equals depreciation per worker. C) investment per worker is as large as possible. D) consumption per worker is as large as possible.
Which of the following will lead to an oligopoly?
a. If the quantity demanded in the market for cell phones is equal to the quantity produced by the largest firm at the minimum point of its long-run average total cost curve b. If the quantity demanded in the market for oil tankers is three times the quantity produced by the largest firm at the minimum point of its long-run average total cost curve c. If the quantity demanded in the market for oil tankers is thirty times the quantity produced by the largest firm at the minimum point of its long-run average total cost curve d. If the quantity demanded in the market for oil tankers is half the quantity produced by the largest firm at the minimum point of its long-run average total cost curve