The traditional view of competitive price-searcher markets holds that this type of market structure is inefficient because
a. there are too few firms to reach an efficient level of competition.
b. barriers to entry are high.
c. excessive advertising is encouraged.
d. consumers are not allowed a sufficient amount of choice in which to express their individual preferences.
C
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In the Monetarist model, the long-run holds when
a. the money supply is constant. b. real wages are constant. c. output is constant. d. the expected price level equals the actual price level. e. none of the above.
Auto insurance rates are lower for young women relative to young men. An unusually reckless young woman driver benefits from this
A) statistical discrimination. B) signal. C) screening. D) majority voting.
Rationality implies that in order to get what they want, people will spend the most time and effort
a. making private market decisions b. getting politically involved c. investigating political candidates' platforms d. debating social issues e. writing to Congress
Money is destroyed when
A. loans are made. B. checks written on one bank are deposited in another bank. C. loans are repaid. D. the net worth of the banking system declines.