Which of the following is a characteristic of a monopolistically competitive market?I. There are many sellers.II.Firms sell slightly differentiated products.III.The demand curve facing each individual firm is horizontal.
A. I and II only
B. I and III only
C. II and III only
D. I, II, and III
Answer: A
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Financial capital is used to help finance
A) gross investment but not net investment. B) net investment but not gross investment. C) the purchase of physical capital by firms. D) people's savings. E) consumption expenditure by households.
A craft union is a union
a. organized on the basis of the workers' industry b. organized on the basis of workers' skills c. organized by an employer d. whose primary goal is to oppose technological advance and to protect the traditional method of working e. organized by workers in the arts and craft industries
Which of the following about business cycles is true?
a. A "depression" is a recession that is mild and relatively brief. b. The expansions and contractions of real world business cycles last varying lengths of time. c. The timing of business fluctuations is regular and, therefore, easily predictable. d. During the recessionary phase of the business cycle, the rate of unemployment is generally quite low.
In Macroland there is $12,000,000 in currency. The public holds half of the currency and banks hold the rest as reserves. If banks' desired reserve/deposit ratio is 12.5 percent, deposits in Macroland equal ________ and the money supply equals ________.
A. $48,000,000; $75,000,000 B. $96,000,000; $96,000,000 C. $54,000,000; $54,000,000 D. $48,000,000; $54,000,000