Which of the following market structures is (are) capable of earning positive economic profits in the long run?
A) monopoly
B) oligopoly
C) monopolistic competition
D) Both A and B.
D
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Which of the following is included in M2?
I. money market mutual funds II. small-denomination certificates of deposit A) I only B) II only C) Both I and II D) Neither I nor II
The part of the disposable income that is not consumed by households is:
a. given away in the form of taxes. b. given away as charity. c. saved. d. deducted as a depreciation cost. e. spent on imports.
Since World War II, the size of the U.S. national debt relative to income
a. increased continuously. b. decreased continuously. c. increased and then decreased. d. decreased and then increased.
Which of the following was not a reason that the Federal Reserve took on additional risks associated with unconventional policy during the recession of 2007-2009?
a. The large budget deficit constrained fiscal policy. b. The inflated price of Treasury bills made them too expensive to purchase in open market operations. c. Only the Federal Reserve acting as the central bank can serve as the lender of last resort. d. The Fed was able to act more quickly than Congress.