Which of the following is NOT a feature of a monopolistically competitive market?
A) numerous buyers and sellers
B) differentiated products
C) advertising
D) a homogeneous product
D
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The marginal cost of an activity is the:
A. the total cost of the activity divided by the change in the level of the activity. B. change in the level of the activity divided by the change in the cost of the activity. C. the total cost of the activity divided by the level of the activity. D. change in the total cost of the activity that results from carrying out an additional unit of the activity.
Suppose it takes roughly two years for monetary policy to have a significant impact on inflation
If inflation is currently low but policymakers believe inflation will rise over the next two years with an unchanged stance of monetary policy, when should they tighten monetary policy to prevent the inflationary surge? A) now B) wait until overt signs of inflation appear C) next year D) two years later
If you initially pay $1,000 for a bond with an annual interest rate of 5 percent, but then the market interest rate falls to 4 percent
A) the market price of the bond is still $1,000. B) the bond's annual interest payment remains equal to $50. C) the market price of the bond has increased. D) the market price of the bond has decreased.
Corporate income taxes
a. make recessions and inflationary episodes more severe b. make recessions and inflationary episodes less severe c. make recessions more severe and inflationary episodes less severe d. make recessions less severe and inflationary episodes more severe e. have no effect on the severity of recessions and inflationary episodes