Most markets in the economy are highly competitive
a. True
b. False
Indicate whether the statement is true or false
True
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If a monopoly is producing an amount of output level at which marginal revenue exceeds marginal cost, in order to increase its profit the monopoly will ________ its price and ________ its output
A) raise; decrease B) lower; increase C) lower; decrease D) raise; increase
The Securities and Exchange Commission is
A. responsible for regulating U.S. commercial banks. B. responsible for enforcing antitrust law. C. responsible for monitoring the activities of U.S. stock markets. D. responsible for monitoring currency exchanges.
When people in a barter economy began to accept the good that had greater acceptability than all other goods, they weren't trying to create the institution of money. They were simply trying to __________
A) get along with their neighbors. B) become rich. C) make trading easier for themselves. D) pay lower prices. E) none of the above
The U.S. economy is currently experiencing a standard business cycle.
Answer the following statement true (T) or false (F)