Which one of the following industries is best classified as an oligopoly?
A) textbook publishers
B) retailing
C) wheat farms in the United States
D) fast food restaurants
Answer: A
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An individual is endowed with $100 of income in period 1, and will receive an income of 121 in period 2. The interest rate is 10%, and there are only 2 periods. The maximum first period consumption consistent with the intertemporal budget constraint is
a) 100 b) 110 c) 121 d) 210 e) 221
Assuming that workers are fully aware of their working conditions, which of the following will not happen when the government mandates pollution control to protect workers' health?
A. Wages will fall at all but the cleanest firms. B. Firms with low profits before the mandate may shut down or exit the industry. C. The air in workplaces will become cleaner. D. Employment will likely decrease. E. Worker utility will increase.
The largest component of M1 is
A. transaction deposits. B. traveler's checks. C. currency and coins. D. time deposit.
In Figure 15.3, the Fed can change the equilibrium interest rate from 2 percent to 6 percent by doing all of the following except
A. Selling bonds in the open market. B. Raising the reserve requirement. C. Decreasing the federal funds rate. D. Raising the discount rate.