Interdependence is the key characteristic of
A. monopolistic competition.
B. monopoly.
C. oligopoly.
D. perfect competition.
Answer: C
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Stagflation is defined as a period when real GDP ________ and the price level ________
A) is constant; rises rapidly B) decreases; increases C) increases; increases D) decreases; decreases E) increases; decreases
The theory that regulation helps producers to maximize profit is the
A) social interest theory. B) consumer surplus theory. C) antitrust theory. D) capture theory. E) oligopoly theory of regulatory bodies.
Suppose the Bank of China permanently decreases its purchases of U.S. government bonds and, instead, holds more dollars on deposit at the Federal Reserve
Everything else held constant, a open market ________ would be the appropriate monetary policy action for the Fed to take to offset the expected ________ in the monetary base in the United States. A) purchase; decrease B) purchase; increase C) sale; decrease D) sale; increase
A recessionary gap results when
A) aggregate demand is below the level consistent with full employment. B) aggregate demand is above the level consistent with full employment. C) aggregate supply and aggregate demand are not in short-run equilibrium. D) aggregate supply decreases.