The best example of a good sold in a monopolistically competitive market is
A) pizza.
B) the local newspaper.
C) sewer services.
D) peaches.
A
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Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause ________ in real GDP in the short run and ________ in inflation in the short run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
A larger controversy of the financial crisis among both members of Congress and the general public had to do with the Fed's expanded role in the economy
a. True b. False
Labor-market discrimination is evident when
a. wages of individuals differ on the basis of some recognizable attribute that is unrelated to productivity. b. wage rates differ for similar jobs. c. consumers prefer to shop at some stores, and not at others. d. wages reflect workers' human capital.
In the equation of exchange, V indicates the:
A. value or purchasing power of the dollar. B. number of times per year the average dollar is spent. C. quantity of real output. D. reciprocal of the price level.