Most markets in the U.S. economy are perfectly competitive
Indicate whether the statement is true or false
F
You might also like to view...
Which of the following statements about price discrimination is correct?
A. Successful price discrimination will provide the firm with more total profits than if it did not discriminate. B. Successful price discrimination will provide the firm with lower total profits than if it did not discriminate. C. Successful price discrimination occurs when there are differences in the costs of producing for different groups of buyers. D. Successful price discrimination will generally result in a lower level of output than would be the case under a single-price pure monopoly.
There is a shortage in a market for a product when:
a. The increase in demand is greater than the increase in supply b. Quantity demanded is less than quantity supplied c. Quantity demanded is greater than quantity supplied d. The increase in supply is greater than the increase in demand
Refer to the graphs, in which the numbers in parentheses near the AD1, AD2, and AD3 labels indicate the level of investment spending associated with each curve. All figures are in billions. The interest rate in the economy is 4 percent. What should the Fed do to achieve a noninflationary full-employment level of real GDP?
A. Increase the money supply from $75 to $150 billion
B. Increase the money supply from $150 to $225 billion
C. Decrease the money supply from $225 to $150 billion
D. Make no change in the money supply
A sales tax imposed on sellers shifts the supply curve leftward for the taxed good because the
A) tax is paid by the seller to the government and is, therefore, like a cost of production. B) tax is actually shifted entirely onto the buyer who can afford only a smaller supply. C) higher price causes entry into the market. D) tax shifts the demand curve leftward.