The central bank of the United States is:
A. Bank of America.
B. the Federal Reserve System.
C. Bank of the United States.
D. the U.S. Treasury.
Answer: B
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What is the correct definition for mutual interdependence?
a. when a firm shapes its policy with an eye to the policies of competing firms b. when an oligopolistic firm has control over an important input c. when a small firm in an industry sells all it wants at the market price d. when substantial numbers of firms are present in an industry
Which market structure best characterizes the various Internet markets?
A. Differentiated oligopoly. B. Homogeneous oligopoly. C. Monopolistic competition. D. Pure monopoly.
Which of the following factors are considered by economists who study economic development to be directly related to the rate of economic growth?
A. an educated population B. openness to international trade C. plentiful natural resources D. All of these are correct.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The economy is currently at Point A. The opportunity cost of moving from Point A to Point B is the
A. 30 LCD televisions that must be forgone to produce 60 additional OLED televisions. B. 90 LCD televisions that must be forgone to produce 20 additional OLED televisions. C. 30 LCD televisions that must be forgone to produce 20 additional OLED televisions. D. 120 LCD televisions that must be forgone to produce 40 additional OLED televisions.