The market structure that is associated with big business in developed economies is
A. perfect competition.
B. monopolistic competition.
C. monopoly.
D. oligopoly.
Answer: D
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A shortage of textbooks will cause
a. a decrease in the supply of textbooks b. a decrease in the demand for textbooks c. both an increase in the supply of textbooks and a decrease in the demand for textbooks d. an increase in the price of textbooks, caused by a shift of either the supply curve or the demand curve e. an increase in the price of textbooks
In a labor market, the benefits to the firm from an additional unit of labor are referred to as the: a. efficiency wage
b. average revenue product of labor. c. average physical product of labor. d. marginal revenue product of labor.
If the current market federal funds rate is in the target rate range and the demand for reserves decreases, the likely response in the federal funds market will be:
A. the market federal funds rate will decrease. B. the market federal funds rate will increase. C. the market federal funds rate will equal the target rate. D. nothing; the reserve supply is so high that the market federal funds rate will be unchanged.
The term "bread and butter unionism" is closely associated with
A. the 8-hour day and the elimination of the wage system. B. better wages, hours, and working conditions. C. government ownership of the means of production. D. the abolition of factory work and a return to farming.