Which of the following industries would most likely represent monopolistic competition?
a. clothing
b. wheat
c. water utilities
d. soft drinks
a
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Conducting expansionary monetary policy when the economy is at its long-run equilibrium causes the Phillips Curve to:
A. shift straight up. B. shift straight down. C. become less steep. D. become more steep.
If consumers spend _____ of a change in their disposable income, then a tax increase of $100 would lower consumption by $70
a. 35 percent b. 100 percent c. 80 percent d. 70 percent e. 50 percent
If the quantity of a good supplied is not very sensitive to the price of the good, economists say the supply of the good is relatively
a. inelastic. b. elastic. c. robust. d. inverse.
In the BankInc case, the change in assignment for caseworkers was made practical by
A. computerization of task input for managerial oversight. B. centralized functional management systems. C. integrating credit checking with pricing, but maintaining document preparation in a separate department. D. elimination of cross-training among credit tasks.