If a large number of firms are competing, the market could be
A) perfect competition or monopolistic competition.
B) perfect competition or monopoly.
C) monopolistic competition or oligopoly.
D) monopolistic competition or monopoly.
E) oligopoly or monopoly.
A
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Suppose the government decides to increase taxes by $50 billion and to increase transfer payments by $50 billion. What effect would there be on aggregate demand?
A. $50 billion increase. B. More than $50 billion increase after the multiplier effect. C. $50 billion decrease. D. No impact.
The status quo bias implies that:
A. people are restricted in their choices. B. people are biased toward making a mistake. C. people do not like making changes. D. people's actions often are influenced by what they perceive as the default choice.
When an asset is described as being highly liquid, which one of the following characteristics does it possess?
A. The asset holds its value over time. B. It is easily and readily converted into money without any loss in purchasing power. C. The face value of the asset is somewhat less than its value when converted into currency. D. It earns a high rate of interest, so its purchasing power is maintained when prices rise.
"Negative-amortization" mortgages are best-suited to borrowers who are nearing retirement and expect their income to decrease in the future.
Answer the following statement true (T) or false (F)