In a monopolistically competitive market:
a. there are significant barriers to the entry of new sellers.
b. firms sell differentiated products
c. firms face horizontal demand curves.
d. there are a few producers selling standardized products.
b
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The real-balance effect refers to
A) the real interest rate. B) the production of real goods and services as opposed to financial instruments. C) the prices of goods and services. D) the real value of cash balances that a person is holding.
Most commercial banks belong to the Federal Reserve System
a. True b. False Indicate whether the statement is true or false
Entrepreneurs
A. receive most of their income through inheritance. B. receive interest payments for their services. C. take risks in order to earn profits. D. are unemployed except during economic boom periods.
Doing something that is not necessarily discriminatory on its face, but is motivated by reference to well-established empirical regularities is
A. rational discrimination. B. statistical discrimination. C. disparate treatment discrimination. D. adverse impact discrimination.