Which of the following was NOT part of the New Deal?
A. Social Security
B. The federal minimum wage
C. Unemployment insurance
D. Medicare
Answer: D
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The problem with adopting a normal profit pricing policy for a natural monopoly is that ________.
A. profits will be positive B. losses will be large and sustained C. it is not allocatively efficient D. it is allocatively efficient
In perfect competition, the product of a single firm
A) has many perfect substitutes produced by other firms. B) has many perfect complements produced by other firms. C) is sold under many differing brand names. D) is sold to different customers at different prices.
In the short run in the Keynesian model, a sharp decline in oil prices would leave the economy with a ________ level of output and a ________ real interest rate
A) higher; lower B) lower; higher C) lower; lower D) higher; higher
A sale in which property or a service is sold to the highest bidder is called a(n)
A) auction. B) bidder sale. C) competitive market. D) Austrian bundle.