If you drive on a rural stretch of highway and come upon an intersection in which there are two gas stations, and you know them to be the only ones for 100 miles, they are
A. monopolistic competitors.
B. perfect competitors.
C. monopolists.
D. oligopolists.
Answer: D
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An increase in price is likely to affect demand in what way?
A. Demand will increase. B. Demand will decrease. C. Demand will not change. D. This would only affect supply and not demand.
The figure above shows the demand for fruit snacks. Which movement reflects a decrease in demand?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
A bank that improves its service may be able to __________ the rate on its loans and so __________ its net interest income
A) lower; lower B) lower; raise C) raise; lower D) raise; raise
Suppose that macroeconomic forecasters predict that the economy will be expanding in the near future. How might managers use this information?
What will be an ideal response?