Between 1986 and 1998 the De Beers company controlled the world diamond market. De Beers and its affiliated association of producers restricted diamond sales to maximize profits. De Beers and its association was "the only game in town" and had what is known as
A. a duopoly.
B. perfect competitor.
C. monopolistic competitor.
D. a cartel.
Answer: D
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Two reasons savers keep deposits at banks are to:
A. lower interest rates and to increase the money supply. B. equalize loan supply and demand and to earn interest. C. earn a return on their savings and to facilitate making payments. D. secure mortgages and to purchase stocks.
The type of good with the largest import in the U.S. is:
A. capital goods. B. consumer goods. C. industrial goods. D. automobiles.
The maximum amount by which the entire banking system can create money is equal to:
a. a fraction of its excess reserves. b. a fraction of its required reserves. c. a multiple of its total reserves. d. a multiple of its excess reserves. e. its excess reserves.
During the past several decades, foreign aid to sub-Saharan Africa
a. has been smaller than the aid to other regions, but the reduction in the extreme poverty rate has been larger in Africa than in other areas of the world. b. has been larger than the aid to other regions, but the reduction in the extreme poverty rate has been smaller in Africa than in other areas of the world. c. has declined and as a result the poverty rate in sub-Saharan Africa has risen sharply. d. has risen and, as a result, the poverty rate in sub-Saharan Africa has declined substantially.