Most U.S. firms face:
A. no competition at all.
B. some degree of competition.
C. perfect competition.
D. market power resting in a few large firms in every industry.
Answer: B
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The acronym NASDAQ (one of the stock exchanges) stands for
A. National Academy of Stock Dealers Automated Quotations B. New American Securities Dealers Automated Quotations C. National Association of Securities Dealers Automated Quotations D. North American Stock Dealers Automated Quotations
In the New Keynesian model, if there is a decrease in anticipated future total factor productivity, then
A) there should be no change in monetary or fiscal policy. B) the central bank's interest rate target should be increased. C) government spending should fall, and the central bank's interest rate target should rise. D) government spending should increase.
The interest rate effect shows that if the price level increases
A) consumers and businesses will increase their spending to buy the same amount of goods as before to make up for the higher interest rates. B) consumers and businesses will decrease their spending as the interest rate increases, thereby pushing up the cost of acquiring funds. C) U.S. exports and imports will both decrease. D) the real value of financial assets will increase.
Which of the following products witnessed a high growth in the number of producers within a few years of market introduction, but was followed by a fast and substantial shakeout?
a. Tortilla b. Penicillin c. Livestock d. Fastfood