Many used car owners and used car dealers describe their different cars for sale in the local newspapers and list their asking price. Many people shopping for a used car consider the different choices listed in the paper
The market for used cars could be described as A) relatively competitive.
B) perfectly competitive.
C) non-competitive.
D) having high transaction costs.
A
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A monopolist will always end up choosing to operate
a. even if its profits are negative. b. on the elastic portion of its demand curve. c. until such time as a new competitor enters its market. d. only if it can capture the entire consumer surplus.
Representative money is
a. accepted on faith. b. found in M1 and M2 money measures. c. today in the form of check able deposits. d. redeemable for a commodity.
Goods that are not rival in consumption include both
a. private goods and common resources. b. club goods and public goods. c. common resources and public goods. d. private goods and club goods.
Carefully explain why monetary policy is likely to be more effective in a open economy than fiscal policy
What will be an ideal response?