The college textbooks market is an example of
A) perfect competition.
B) oligopoly.
C) monopoly.
D) monopolistic competition.
B
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The ratio that relates the change in the money supply to a given change in the monetary base is called the
A) money multiplier. B) required reserve ratio. C) deposit ratio. D) discount rate.
Which of the following is a credit item (+) in the U.S. balance of payments?
a. U.S. companies sell merchandise abroad. b. Foreign companies sell merchandise to U.S. consumers. c. U.S. consumers send money to foreign companies. d. Immigrants to the United States send presents of money back to their families in their native countries. e. Immigrants to the United States send presents of goods back to their families in their native countries.
Suppose Cathy and Lewis work in a bakery making pies and cakes. Suppose it takes Cathy 1.5 hours to make a pie and 1 hour to make a cake, and suppose it takes Lewis 2 hours to make a pie and 1.5 hours to make a cake. What is the opportunity cost to Cathy of making a cake?
A. 1 pie. B. 1.33 pies. C. 1.5 pies. D. 2/3 of a pie.
A monopolist will maximize profit by producing the level of output at which
A. the last unit of output produced adds the same amount to total revenue as to total cost. B. the firm's total revenue exceeds total cost by the largest amount. C. marginal revenue equals marginal cost. D. both a and b E. all of the above