The two types of imperfectly competitive markets are
a. markets with advertising and markets with price competition.
b. public goods and common resources.
c. oligopoly and monopoly.
d. monopolistic competition and oligopoly.
d
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If the marginal propensity to consume is 2/3 and autonomous consumption spending increases by $3 trillion, what is the change in GDP?
a. $3 trillion b. $1 trillion c. -$3 trillion d. $9 trillion e. -$9 trillion
If the government grants a patent to Firm A for the production of Good A, then the market for Good A will be: a. an oligopoly
b. a monopoly. c. perfectly competitive. d. a duopoly.
Frictional unemployment
a. would be eliminated if the economy were more stable. b. would be eliminated if the minimum wage were raised. c. is the result of workers' skills not matching the jobs available. d. is present even when labor markets are working well.
You currently sell the same product to both professional plumbers and homeowners, and are able to prevent transfer from one group to the other. Your current prices, quantities sold, and the absolute values of the slopes of the demand curves are as follows: 
If your marginal cost is $10 and you are interested in maximizing your revenues, how would you adjust your prices?
A. Increase plumbers' price and decrease homeowners' price. B. Decrease plumbers' price and increase homeowners' price. C. Increase prices for both groups. D. Decrease prices for both groups.