A form of industry structure characterized by a few firms each large enough to influence market price is
A. oligopoly.
B. monopolistic competition.
C. monopoly.
D. perfect competition.
Answer: A
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Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$3500.75$400$400$200Determine equilibrium consumption for this economy.
A. $3,350 B. $3,200 C. $3,000 D. $2,850
An increase in wealth would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) shift up and to the right only if people face borrowing constraints.
A widget costs $1000 in the US and CAD$1200 in Canada. The current exchange rate is 1USD=1.09CAD. At this rate,
a. The good costs more in the US b. The good costs more in Canada c. The good costs the same across the two countries d. None of the above
Continuous rapid growth of the money supply relative to the growth of real output will most likely lead to
a. persistent inflation. b. low nominal interest rates. c. high rates of real economic growth. d. low unemployment.