The automobile, steel, and oil markets are all examples of:
a. perfectly competitive markets.
b. monopolies.
c. monopolistically competitive markets.
d. oligopolies.
d
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Life insurance companies are supervised and regulated by the
A) Federal Home Loan Bank Board. B) Securities and Exchange Commission. C) states in which they operate. D) Federal Reserve.
If the Japanese economy is currently suffering from a recession, we should expect U.S. exports to Japan to
A. decrease. B. increase. C. remain the same. D. increase only if the Japanese Yen depreciates.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
Refer to the graphs shown.
If income is $60 and the price of Y is $3, a decrease in the price of X from $3 to $2 would cause a movement:
A. from point A to point B. B. along the demand curve from point E to point F. C. from point C to point B. D. along the demand curve from point D to point E.