The brewing industry is dominated by a small number of very large producers who sell a differentiated product. The market structure that best fits the brewing industry is probably
A) perfect competition.
B) monopolistic competition.
C) monopoly.
D) oligopoly.
D
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Refer to Table 19-18. What is real GDP in 2016, using 2016 as the base year?
A) $28,885 B) $11,790 C) $11,200 D) $10,275
Hyperinflation refers to a situation in which:
a. prices are rising extremely rapidly. b. prices are falling extremely rapidly. c. the price level is extremely high. d. the price level is extremely low.
Which of the following would lead the Fed to increase the money supply under an interest rate rule?
a. an unexplained decrease of money demand b. an increase in taxes c. a decrease in spending that caused the money demand curve to decrease d. an increase in spending that caused the money demand curve to increase e. a decrease in government spending
An increase in per capita income will generally lead to
a. more material goods, but a decline in the quality of the environment. b. a reduction in life expectancy because working conditions are less desirable. c. an increase in the number of hours worked by residents. d. an increase in the living standards of most people.