The town of Pleasantville has two local TV stations. If one of them invests in the newest weather forecasting technology, one can predict that:
A. both stations eventually will switch back to the old weather forecasting technology.
B. the quality of weather forecasts will remain unchanged.
C. the other station will upgrade its weather forecasting technology.
D. the other station will continue to use its current weather forecasting technology.
Answer: C
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The bond markets are important because they are
A) easily the most widely followed financial markets in the United States. B) the markets where foreign exchange rates are determined. C) the markets where interest rates are determined. D) the markets where all borrowers get their funds.
Rent controls tend to _____ the housing supply and to _____ the rents that people in non-rent-controlled apartments pay.
Fill in the blank(s) with the appropriate word(s).
The idea that firms and resource suppliers in seeking to further their own self-interests in a competitive market economy also simultaneously promotes the public or social interest is a description of:
a. The "invisible hand" b. The guiding function of prices c. "Dollar votes" d. Capital accumulation
Which market structure is characterized by a few interdependent firms?
A. Monopolist competition. B. Monopoly. C. Oligopoly. D. Perfect competition.