The market for high-end cars is likely to be a(n) ________
A) perfect competition
B) monopolistic competition
C) monopoly
D) oligopoly
D
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
Refer to the scenario above. In this case, the employer may prevent shirking by ________
A) paying an efficiency wage to each worker B) paying a wage less than minimum wage C) reducing the nominal wage paid to workers D) reducing the real wage paid to workers
During the Great Depression, many industrial countries tried protecting domestic jobs by raising tariffs. Economic theory would suggest that the result would be
A) success for only the countries that raised tariffs first. B) success for firms that had a comparative advantage in manufactured goods rather than agricultural goods. C) reduced exports and volume of trade for everyone. D) increased incomes in the countries that pursued this policy.
National characteristics that affect the cost of producing goods in a particular country include all of the following except:
A. natural resources and climate. B. endowment of factors of production. C. technology. D. proper government oversight of production.