Which type of firm engages in nonprice competition?
A. Price takers.
B. Perfectly competitive firms.
C. Monopolistically competitive firms.
D. Extremely efficient firms.
Answer: C
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Optimal decisions take into account
A. the resources available. B. the alternatives that were not available to choose. C. the gratification produced by an outcome. D. the effect on the distribution of income. E. the outcomes that are not feasible.
Adverse selection occurs when those ________ likely to get ________ insurance payoffs are the ones who want to purchase insurance the most
A) least; large B) least; small C) most; large D) most; small
Economists believe that public debt
a. cannot create inflation b. can create inflation if the government sells bonds to private citizens c. can create inflation if the government sells bonds to private firms d. can create inflation if the government sells bonds to the Federal Reserve e. can create inflation if the government sells bonds to foreigners
If the reserve ratio is 10 percent, the money multiplier is
a. 100. b. 10. c. 9/10. d. 1/10.