A market where individual firms cannot affect the market price of their good is most likely:
A. a monopoly
B. an oligopoly
C. a monopolistically competitive market.
D. perfectly competitive
Answer: D
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The Contract Labor Law, which was passed in 1864 and repealed in 1868,
a. authorized labor contracts made abroad between American companies and foreign workers. b. resulted in a large increase in European immigration to the U.S. c. was supported by American wage earners. d. authorized workers to strike and engage in collective bargaining.
A special kind of imperfectly competitive market that has only two firms is called
a. a two-tier competitive structure. b. an incidental monopoly. c. a doublet. d. a duopoly.
In practice, taxes on emissions of pollutants have been found to
A. be ineffective in encouraging firms to pollute less. B. significantly reduce pollution by taxed firms. C. be less reliable in reducing pollution than direct controls on pollution. D. cause failures of the pricing system.
When the Fed sells bonds, the money supply:
A. Selling bonds does not affect the money supply. B. sometimes rises and sometimes falls. C. contracts. D. expands.