Excluding foreign competition, which of the following is an oligopoly in the United States?
a. The computer industry.
b. The automobile industry.
c. The steel industry.
d. All of these are oligopolies.
d
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The above figure shows the market for blouses. The government decides to impose the sales tax on sellers, as shown in the figure. Using the figure, what is the tax per blouse?
A) $10 per blouse B) $20 per blouse C) $30 per blouse D) $40 per blouse
"Ceteris paribus" means
A) "invisible hand." B) "other things constant." C) "making all the necessary changes." D) "individual."
If banks do not loan out all their excess reserves, then the real world multiplier is
A) smaller than 1/RR. B) larger than 1/RR. C) equal to 1/RR. D) not related to 1/RR.
If the expected rate of inflation rose at the same time the natural rate of unemployment rose, the short-run Phillips curve
A. would not move. B. would shift up. C. would shift down. D. might shift up or down or not move, depending on which effect was larger.