The number of sellers in an industry, in part, defines its market
a. performance
b. standard
c. demand curve
d. structure
e. profile
D
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In behavioral economics, the term salience refers to
A) relevance to the problem being investigated. B) people only consider information when it is conveyed in a subtle manner. C) how an experiment is designed. D) people consider information when it is presented in an "eye grabbing" manner.
Using tariffs to support diversification of a nation’s industrial structure
a. has little application to developing countries. b. is based on the need to protect high domestic wages. c. is based on the need to make the economy less vulnerable to demand fluctuations for its products. d. is designed to encourage specialization by the nation’s producers in just one or a few goods.
The most important characteristic that differentiates one market structure from another is the
a. time it takes for new firms to enter b. amount of short-run economic profit c. degree to which goods complement each other d. number of producers selling in the market e. barriers to entry
When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline