There is a market supply curve in a:
A. monopolistically competitive market.
B. perfectly competitive market.
C. monopolistic market.
D. perfectly competitive market and monopolistically competitive market.
Answer: B
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If the Federal Reserve conducts an open market sale, the
A) interest rate will decrease. B) interest rate will increase. C) interest rate will not change. D) money supply is increased.
A positive demand shock causes a ________ the IS curve and a ________ the aggregate demand curve
A) movement up along; shift to the right of B) shift to the right of; movement down along C) movement down along; movement down along D) shift to the right; shift to the right of
The U.S. government currently imposes a $0.54 per gallon tariff on all ethanol imported into the country. If this tariff were removed, then:
A) the domestic ethanol price falls. B) the domestic quantity of ethanol supplied declines. C) domestic consumer surplus increases. D) domestic producer surplus decreases. E) all of the above
The argument that money should be given instead of in-kind help to welfare recipients is based on the idea that
A. welfare recipients cannot be trusted to use the in-kind help properly. B. in-kind help is not wanted. C. money allows more options and maximizes individual freedom. D. in-kind assistance does not go through the market system.