The air travel market, which is dominated by a few large firms, is an example of
A) a monopoly market.
B) an oligopolistic market.
C) a perfectly competitive market.
D) a monopolistically competitive market.
B
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During fiscal year 2017, the most recent mentioned in the text, the federal government spent approximately
A. $1.2 billion. B. $1.9 trillion. C. $4.0 trillion. D. $15.0 trillion.
The initial impact of ________ the money supply ________ the balance of payments.
A. contracting; has no effect on B. expanding; improves C. contracting; worsens D. expanding; worsens
If the ________ tax rate equals the ________ tax rate, the tax would be proportional.
A. corporate income; personal income B. average; variable C. marginal; average D. sales; personal income
When a monopolist increases the number of units it sells, there are two effects on revenue. They are the
a. demand effect and the supply effect. b. competition effect and the cost effect. c. competitive effect and the monopoly effect. d. output effect and the price effect.