There are fewer than half as many publishers of college textbooks in the United States now as a generation ago. Three companies alone account for almost two-thirds of the sale of new textbooks. This market situation characterized by very few sellers is known as
A. monopolistic competition.
B. pure monopoly.
C. perfect competition.
D. an oligopoly.
Answer: D
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Which of the following does NOT shift the aggregate demand curve?
A) a change in the money wage B) a change in expectations about the future C) a change in fiscal policy D) a change in monetary policy E) a change in foreign income
Expected expansionary monetary policy will raise real output beyond the economy's potential level in the short run
Indicate whether the statement is true or false
The major purpose of the Federal Reserve buying government securities in open market operations is to:
a. Increase interest rates b. Raise money for government spending c. Allow banks to increase their lending d. Reduce the excess reserves of banks
The statement "Every contract, combination in the form of a trust or otherwise, or conspiracy, in restraint of trade or commerce . . ." is found in the
A) Sherman Antitrust Act. B) Clayton Antitrust Act. C) Robinson-Patman Act. D) Interstate Commerce Commission Act.