Related to the Economics in Practice on page 306: Almost 90 percent of advertisements seen in movie theaters are produced and sold by two firms. This movie theater advertisement industry would be characterized as
A. an oligopoly.
B. monopolistically competitive.
C. perfectly competitive.
D. a monopoly.
Answer: A
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Which of the following statements is not an example of the use of persuasion to correct (or adjust for) an externality?
A. Maggie asks her neighbor to keep his dog quiet at night. B. An environmental group conducts a sit-in at a chemical factory to demand that the firm stop polluting rivers. C. A judicial court imposes a fine on a reckless driver. D. All of the above are examples of the use of persuasion to correct (or adjust for) an externality.
Marginal factor cost (MFC) is the same as the wage rate for a monopsonist
a. True b. False Indicate whether the statement is true or false
Which of the following will shift the aggregate supply curve upward?
a. A decrease in world oil prices b. Bad weather, which increases farmers' costs per unit of output c. Increases in consumer spending d. An increase in the price level e. Technological changes that improve worker productivity
If the Fed wanted to decrease the money supply, one way to make an enormous impact would be to:
A. decrease the reserve requirement, which would increase the money multiplier. B. increase the reserve requirement, which would decrease the money multiplier. C. increase the reserve requirement, which would increase the money multiplier. D. decrease the reserve requirement, which would decrease the money multiplier.