At the twenty-fifth anniversary of the Woodstock Festival in 1994, there were many vendors who sold tie-dyed t-shirts. No matter where one went, each vendor was selling these t-shirts for $15 a piece. Which market structure model would best characterize such a situation?
a. Perfect competition
b. Monopolistic competition
c. Monopoly
d. Oligopoly
e. Monopsony
a
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The policy of ________ exacerbated ________ problems as savings and loans took on increasingly huge levels of risk on the slim chance of returning to solvency
A) regulatory forbearance; moral hazard B) regulatory forbearance; adverse hazard C) regulatory agnosticism; moral hazard D) regulatory agnosticism; adverse hazard
If total utility increases from 10 to 15 for the second unit of a good consumed, the marginal utility of the second unit is 25
a. True b. False Indicate whether the statement is true or false
A one-time rise in the price level is:
A. not inflation. B. inflation if that rise is above 10 percent. C. inflation if that rise is above 5 percent. D. inflation if that rise is above 15 percent.
Bankers’ business decisions effect the money supply because bankers
A. are respected men and women. B. have the ability to create money. C. use a special accounting system developed by the Federal Reserve Board. D. All of these responses are correct.