A market situation where a small number of sellers dominate the entire industry is called:
A. monopolistic competition.
B. monopsony.
C. monopoly.
D. oligopoly.
Answer: D
You might also like to view...
Suppose the government spends the same for a particular consumer under two different policies: One subsidizes the price of good x while the other is a lump sum subsidy. Which of the following is true.
A. Compared to the lump sum subsidy, the consumer will purchase more x under the price subsidy if and only if x is a normal good. B. Compared to the lump sum subsidy, the consumer will purchase less of x under the price subsidy if x is an inferior good. C. Compared to the lump sum subsidy, the consumer will purchase less of x under the price subsidy if x is a Giffen good. D. The consumer will spend the same on x under the two policy if and only if her indifference curves are kinked. E. Both (a) and (c). F. Both (b) and (c). G. All of the above. H. None of the above.
Unemployment increases when
A) an inflationary gap is created. B) potential GDP increases. C) the government decreases its expenditure on goods and services. D) aggregate demand increases. E) aggregate supply increases.
Some corporate governance experts believe that serving on a company's board of directors for an extended length of time diminishes that member's independence from the company's CEO. If this is true, it would tend to
A) reduce the principal-agent problem. B) increase the principal-agent problem. C) have no impact on the company's performance, since the CEO is only one member of top management. D) be in the best interest of shareholders.
In 1971 money market mutual funds were introduced as an alternative to
A) commercial paper. B) Treasury bills. C) repurchase agreements. D) bank deposits.