The price paid for the use of borrowed money:
a. Ponzi payment
b. deed bond
c. interest
d. millage note
Ans: c. interest
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Oligopolists merge to ________
A) increase market supply B) increase market demand C) increase market power D) reduce prices
Compared to monopoly, the market results with monopolistic competition are usually expected to be:
a. worse because consumers get fewer choices. b. worse because consumers pay a higher price. c. the same. d. better because consumers get less output. e. better because consumers pay a lower price.
The purchase and sale of government bonds by the Fed for the purpose of altering bank reserves is referred to as:
A. Open-market operations. B. Closed-market operations. C. Discounting. D. Expansionary fiscal policy.
A monopolistic industry has
A. a homogeneous product and easy entry. B. a single, unique product and blocked entry. C. many differentiated products and easy entry. D. either a standardized product or differentiated products.