Which of the following is not a characteristic of perfect competition?
a. Many small buyers.
b. Different firms sell products with different features.
c. Ease of entry into and exit from the market.
d. Many small sellers.
B
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The price of a commodity in terms of another commodity is
A) the law of demand. B) a substitute. C) the money price. D) the relative price.
The IMF mostly receives its funds from:
a. the subscription fees paid by the member nations. b. selling of bonds. c. the loans given by the World Bank. d. the central banks of the major industrialized nations. e. the gold reserves available with the Fed.
Common resources have which of the following characteristics?
a. Nonexcludable and rivalrous b. Nonexcludable and nonrivalrous c. Excludable and rivalrous d. Excludable and nonrivalrous
When the money supply declined by approximately 30 percent during the 1929 through 1933 period,
a. real output increased. b. the general level of prices increased. c. the velocity of money increased by a proportional amount. d. unemployment increased.