Monopolistically competitive industries have significant barriers to entry and exit
a. True
b. False
Indicate whether the statement is true or false
False
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The last time the United States experienced hyperinflation was during:
A. the Great Depression. B. the Civil War. C. World War II. D. the oil crisis of the 1970s.
Which of the following policies can be adopted by the Fed in order to stimulate an economy in the short run?
a. Increase the market interest rate b. Purchase U.S. government securities c. Increase the discount rate d. Increase the price of consumer goods e. Increase the required reserve ratio
Which of the following is considered a classic example of an externality?
a. pollution b. monopoly c. sunlight d. inflation
If two goods are substitutes, a decrease in the price of one will result in an increase in demand for the other.
a. true b. false