What is the price of cars if this were a closed economy?
A. $10,000/car
B. $6,000/car
C. $8,000/car
D. $14,000/car
Answer: D
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Entry barriers are most significant in
A) pure competition. B) monopolistic competition. C) oligopoly. D) pure monopoly.
An example of traditional public-goods legislation is
a. price supports for dairy products b. a system of justice c. a tattoo removal program in San Luis Obispo, California d. tort-reform e. a labor union issue
One thing the simple circular flow model shows is ______.
a. that firms pay households for capital inputs b. where political power is concentrated c. that firms are the buyers in product markets d. the average capital holdings of households
The Fed classifies different types of money depending on its:
A. commodity back. B. intrinsic value. C. resale value. D. liquidity.