In practice, monopolistically competitive markets are:
A. very rare.
B. very common.
C. virtually nonexistent.
D. the only type of market that truly exists.
B. very common.
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Consider the labor market below. Suppose the government passes a minimum wage requiring employers to pay at least $8.00 per hour. 
 Employment will fall by ________ person-hours per day as a result of the minimum wage.
A. 4,000 B. 8,000 C. 6,000 D. 2,000
If you invest in a foreign company by buying 8 percent of its shares of stock, you have engaged in
A) moral hazard. B) foreign direct investment. C) portfolio investment. D) adverse selection.
The revenue a government gains from issuing money is
A) interest. B) rent. C) seignorage. D) the national dividend. E) the inflation tax.
Homelessness is not caused by _____
a. the high cost of housing in cities b. the deinstitutionalization of the mentally ill c. drug abuse d. housing subsidies