Suppose all producers in a given industry charge exactly the same price for their product. Uniform prices across an industry proves
A) industry competetitiveness.
B) industry monopolization.
C) producers cannot be earning monopoly profits.
D) absolutely nothing about whether the industry is adequately competitive.
D
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A private good is ________ and ________
A) rival; excludable B) nonrival; excludable C) rival; nonexcludable D) nonrival; nonexcludable
The proponents of ________ and ________ think that the Federal Reserve should adopt a constant monetary growth rule
A) new Keynesianism; the new classical model B) the real business cycle model; Marxism C) the monetarist model; the Keynesian model D) rational expectations; monetarism
What is the primary problem caused by adverse selection?
a. Straining the insurance system b. Creating healthcare exchanges c. Mandating insurance premiums d. Increasing government regulation
When the Federal Reserve acts to tighten money and credit in the economy, then the aggregate:
a. Supply curve will shift to the left b. Demand curve will shift to the left c. Demand curve will stay the same but there will be a movement along the existing demand curve d. Demand curve will shift to the right