Firms in monopolistic competition compete by selling similar, but not identical products
Indicate whether the statement is true or false
TRUE
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If the nominal interest rate is 10 percent, the inflation rate is 6 percent, and the tax rate on interest income is 25 percent, what is the after-tax real interest rate?
A) 1.5 percent B) 4.0 percent C) 3.0 percent D) 6.0 percent E) 3.5 percent
Which of the following best describes the policy ineffectiveness proposition?
A) Monetary policy cannot change real GDP in a regular or predictable way. B) Policymakers can be effective in changing real GDP only if people's expectations are correct. C) Monetary policy can change real GDP only if the Fed pursues a consistent, stable growth rate of the real money supply. D) Fiscal policy is totally ineffective in changing real GDP in both the short run and the long run.
The software industry has traits in common with monopoly markets
a. True b. False Indicate whether the statement is true or false
Which of the following is not a common resource?
a. clean air b. clean water c. open grazing land d. national defense