A market in which firms sell a homogeneous product and cannot influence market price is most likely:
A. a perfectly competitive market.
B. an oligopoly.
C. a monopolistically competitive market.
D. a monopoly market.
Answer: A
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What is the disadvantage of using expenditure-based fiscal policy?
What will be an ideal response?
The utility of a good is:
a. different for different consumers. b. the same for all consumers. c. constant no matter how much is consumed. d. related to the cost of producing it. e. easily measured.
The following graph depicts demand. The price elasticity of demand at point B is:
A. 1/3. B. 3/4. C. 4/3. D. 3.
Refer to Figure 19-7. At what level should the Indian government peg its currency to the dollar to make U.S. imports cheaper in India?
A) less than $.02/rupee B) equal to $.02/rupee C) greater than $.02/rupee D) $1/rupee