Under which one of the following market structures are sellers most likely to consider the reaction of rival sellers when they set the price of their product?
a. oligopoly
b. perfect competition
c. pure monopoly
d. monopolistic competition
a
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Assets of the commercial banking system include:
A. deposits. B. reserves and loans. C. loans and deposits. D. reserves and deposits.
A 10 percent increase in income brings about a 15 percent decrease in the demand for a good. What is the income elasticity of demand and is the good a normal good or an inferior good?
What will be an ideal response?
From the 1960s to 2014, transfer payments
A) have declined by half as a percentage of total federal government expenditures. B) have risen from 25 percent to about 48 percent of federal government expenditures. C) remained the same percentage of total federal government expenditures. D) have grown very slowly as a percentage of total federal government expenditures.
How many people are employed if the labor force participation rate is 60%, there are 3 million people unemployed, and there are 30 million people not in the labor force?
A) 54 million B) 48 million C) 42 million D) 30 million