The primary copper industry in the United States would be an example of a:
A. homogeneous oligopoly.
B. differentiated oligopoly.
C. noncollusive oligopoly.
D. duopoly.
Answer: A
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The combination of producer and consumer surplus shows the:
a. maximum price that buyers are willing to pay for a good b. minimum price buyers are willing to pay for a good c. maximum price that sellers can charge. d. minimum price below which sellers will not sell. e. gains from voluntary exchange.
One of the negative side effects of financial globalization is that national economic policies lack the discipline that they did in the past
Indicate whether the statement is true or false
A liquidity trap occurs when
A) any additions to the monetary base are held as cash by people or reserves at banks. B) the Fed increases the money supply, causing the expected inflation rate to rise more than the real interest rate declines, so that the nominal interest rate increases. C) there are runs on banks that are solvent but illiquid. D) the demand for loans increases in a country on the gold standard, so that the monetary supply is not able to increase and interest rates rise dramatically.
Monetarist and Keynesian theories of money demand differs in that
a. Monetarists assumes that the demand for money is highly inelastic while Keynes assumes money demand is elastic. b. Monetarists assumes that the money demand function is highly stable while Keynes assumes it is unstable. c. Monetarists assumes that there is only a transactions demand for money while Keynes also considers the precautionary and speculative demands for money. d. Monetarists assume that the proportion of income held in theform of money is constant while Keynes believes it varies. e. all of the above.