Which of the following is the closest example of a perfectly competitive market?
A. soybeans
B. gasoline stations
C. fast foods
D. beer
Answer: A
You might also like to view...
Define the nominal interest rate and the real interest rate. Discuss the relationship between the nominal interest rate and the real interest rate
What will be an ideal response?
Affirmative action
A. requires potential employees to affirm their rights at the Equal Employment Opportunity Commission. B. outlaws discrimination in rates of pay and hiring standards. C. refers to active efforts to locate and hire members of underrepresented groups. D. is when members of underrepresented groups act to reduce workplace discrimination.
Automatic stabilizers "lean against the prevailing wind" of the business cycle because:
a. wages are controlled by the minimum wage law. b. federal expenditures and tax revenues change as the level of real GDP changes. c. the spending and tax multipliers are constant. d. they include the power of special interests.
In the market for loanable funds, the supply curve:
A. is downward sloping. B. is made up of people who want to borrow funds. C. represents savers. D. reflects that more people will choose to save the lower is the interest rate.