The market for wheat is an example of
A) a monopoly market.
B) an oligopolistic market.
C) a perfectly competitive market.
D) a monopolistically competitive market.
C
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Because of scarcity, every economic decision involves
A. a trade-off. B. a free good. C. a trade-in. D. an increasing cost. E. a money payment.
Since most people prefer more money to less, the desire for more money
A) makes it difficult to induce people to cooperate. B) makes it difficult to induce people to sacrifice for the larger public good. C) makes social order highly unstable and unpredictable. D) can induce useful changes in behavior. E) implies people are living in a capitalist society.
To eliminate a recessionary gap, what fiscal policy should the government pursue?
What will be an ideal response?
Which of the following will not cause the aggregate demand curve to shift?
a. an increase in government spending for interstate highways b. an increase in the sales of exports resulting from a change in the exchange rate c. a change in the price level d. an increase in the purchase of capital goods caused by a change in expectations e. a decrease in the construction of new houses caused by an increase in interest rates