Macroeconomics is concerned with
A. individual consumers.
B. specific markets.
C. a nation's economy.
D. individual business firms.
Answer: C
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Which of the following is not a technical barrier to entry in a monopolized market?
a. A patent b. Decreasing average cost c. A low cost method of production known only by monopolists d. Increasing returns to scale
If the market power of a labor union enables it to offset the market power of an oligopolistic firm, this is called
a. monopolistic competition b. cartel pricing c. price discrimination d. contestable markets e. countervailing power
Ancillary tools available to the Fed besides the big three policy options include
a. the discount rate and moral suasion b. margin requirements and moral suasion c. margin requirements and reserve requirements d. the federal funds rate and the discount rate e. open market operations and bracket creep
For many corporations, a major portion of the cost of production is fixed in the short run. Should these very large fixed costs be ignored when the executives are making output and pricing decisions? Why?
What will be an ideal response?