An oligopolistic model in which firms produce exactly the same results as would exist if the industry was ________ is called the collusion model.
A. government regulated
B. a monopoly
C. monopolistically competitive
D. perfectly competitive
Answer: B
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________ adopts the view that aggregate fluctuations are a natural consequence of an expanding economy
A) The new macroeconomics B) The Okun Gap C) Keynesian economics D) The Lucas Wedge E) Classical macroeconomics
Recall from Chapter 5: interest rates in the free market (without artificial lowering by the Fed) are largely determined by
A) Congress. B) arbitrary bank lending practices. C) household saving and consumption preferences. D) tax revenues and lobbying demands.
After a $3 per-unit tax on seeing movies in theaters is imposed, attendance falls from 4,000 a week to 3,000 a week. The revenue from the tax is
A) less than $9,000 a week. B) $9,000 a week. C) between $9,000 a week and $12,000 a week. D) some amount that cannot be calculated without more information.
Compare and contrast the tax base with the tax rate structure
What will be an ideal response?