Which of the following best illustrates a perfectly competitive market?
a. Soft drinks.
b. Automobiles.
c. Electric power.
d. Soybean farmers.
d
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An economist is unlikely to be hired to do research about the following?
A. Oil prices. B. Election outcomes C. Interest rate D. Inflation rates E. Unemployment
With a given level of GDP, a decrease in the size of population would cause:
A) GDP per capita to decrease. B) life expectancy to decrease. C) GDP per capita to increase. D) life expectancy to increase.
Under the monetary growth rule proposed by the monetarists, the money supply would grow each year at a constant rate equal to the long-run rate of growth of
A) employment. B) inflation. C) interest rates. D) real GDP.
Which of the following two goods is likely to have a negative cross-price elasticity of demand?
A. Peanut butter and tuna fish B. Left and right shoes C. Coke and Pepsi D. Margarine and butter