A ________ industry has a relatively small number of firms that dominate a market.
A. monopolistically competitive
B. Cournot
C. contestable
D. concentrated
Answer: D
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Juanita worked for a defense contractor in the United States. During the 2008 recession, the government cut spending and Juanita and ninety-nine others were laid off. In such a case, the unemployment Juanita is experiencing is _____
a. cyclical b. structural c. seasonal d. frictional e. voluntary
Given Keynesian assumptions about the shape of the aggregate supply curve and an economy suffering a recession, which of the following is most likely to occur if the Fed pursues expansionary monetary policy?
A. The equilibrium price level and output will both increase until full employment is reached. B. The equilibrium price level and output will both decrease. C. The equilibrium price level will increase but output will stay the same. D. The equilibrium output will increase but the price level will stay the same until full employment is reached.
Would a change in the price of in-line skates cause a change in the supply of in-line skates? Why or why not?
What will be an ideal response?
A bridge built by the government of Nepal collapsed in the same year it was constructed. If the total cost of building the bridge was $4 million, which of the following will happen as a result of its collapse?
A) GDP will decrease. B) GDP will remain unchanged. C) Nepal's trade deficit will increase. D) Nepal's trade surplus will increase.