Which of the following is the best example of an oligopolistic industry?

A. convenience stores
B. smartphone manufacturing
C. public utilities
D. book publishing


Answer: B

Economics

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The required reserve ratio is

a. the minimum fraction of vault cash balances that banks must hold as reserves. b. the minimum fraction of all assets that banks must hold as reserves. c. the minimum fraction of all liabilities that banks must hold as reserves. d. the minimum fraction of checking account balances that banks must hold as reserves. e. the minimum fraction of loans that banks must make sure are repaid.

Economics

Suppose that the demand for artichokes (Qa) is given as: Qa = 200 - 4P. Suppose that the price of artichokes is increased slightly from $10. The total expenditure by consumers on artichokes will ________ and the number of artichokes sold will ________.

A. rise; rise B. fall; fall C.fall; rise D. rise; fall

Economics

Which of the following countries concentrate power in a single legislative chamber?

A. unicameral B. bicameral C. unitary D. federal

Economics

Which of the following countries would economists say definitively is achieving modern economic growth?

A. Zimbabwe experiences a 5.6 percent increase in nominal GDP. B. South Africa experiences a 4.2 percent increase in real GDP. C. Ghana experiences a 3.6 percent increase in nominal GDP per person. D. Nigeria experiences a 2.7 percent increase in real GDP per person.

Economics