A market structure with barriers to entry is
a. a monopoly.
b. oligopolistically competitive.
c. monopolistically competitive.
d. perfectly competitive.
a
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A decrease in the discount rate will
A) have an unclear effect on the money supply. B) decrease the money supply. C) increase the money supply. D) not affect the money supply.
Which of the following situations is clearly inconsistent with the law of diminishing marginal utility?
a. Even a person with a huge appetite will eventually turn away food at an all-you-can-eat buffet. b. Some western ski areas close down when there is still considerable snow in the mountains in May because they can no longer attract enough skiers to the slopes. c. Newcomers to the California coast visit the beach much more frequently than long-term residents or natives. d. Diamond jewelry consumption has no disutility to the elite class as it signals prestige.
Usury laws lead to a ________________ of loanable funds.
Fill in the blank(s) with the appropriate word(s).
Oligopolists compete on quality but not price.
Answer the following statement true (T) or false (F)