Monopoly is a market structure with
a. no entry of new firms
b. difficult entry of new firms
c. easy entry of new firms
d. only a few close substitute goods in the industry
e. mutual interdependence among firms
A
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According to the quantity theory of money, an increase in the money supply leads to:
A. an increase in prices, as there are more dollar bills spent on the same number of goods and services. B. an increase in prices, as there are the same dollar bills spent on a greater number of goods and services. C. a decrease in prices, as there are more dollar bills spent on the same number of goods and services. D. a decrease in price, as there are the same dollar bills spent on a greater number of goods and services.
What is opportunity cost?
What will be an ideal response?
Suppose a new government policy will generate $5,000 of benefits for local businesses and $3,000 of costs. This policy can best be described as
A. Pareto efficient. B. inefficient. C. equitable. D. potentially efficient.
Since the 1930s, the Fed's most important tool for controlling the money supply has been
A) setting the discount rate. B) setting reserve requirements. C) moral suasion. D) open-market operations.