Which of the following consumer goods is responsible for creating jobs, increasing energy consumption, and altering people's lifestyle?
A. television
B. prefabricated housing
C. automobile
D. electric appliances
Answer: C. automobile
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A nominal anchor promotes price stability by
A) outlawing inflation. B) stabilizing interest rates. C) keeping inflation expectations low. D) keeping economic growth low.
What does it mean to say that a perfectly competitive firm is a price taker? Can't a firm set any price it chooses?
What will be an ideal response?
A market that has no barriers to entry and many small firms selling products that are slightly different from one another is best described as:
A. monopolistic competition. B. monopoly. C. perfect competition. D. oligopoly.
The investment and capital spending boom of the late 1990s most likely resulted in a(n)
a. increase in aggregate supply. b. decrease in aggregate supply. c. steeper aggregate supply curve. d. flatter aggregate supply curve.