Which of the following goods is most likely to be associated with monopolistic competition?
a. Gasoline
b. Milk
c. Cookies
d. Wheat
c
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Which government agency publishes four-firm concentration ratios?
A) the Economic Council B) the U.S. Bureau of the Census C) the Federal Reserve System D) the Treasury Department
Upon graduating from high school you have a job offer which would provide you with $20,000 in income for the coming year. You have also been accepted to Isaac and Avery college. Tuition for the coming year at I&A college is $15,000 . room and board is $10,000 and you expect that books will cost you $2,000 . What is the opportunity cost of attending I&A college?
a. $37,000 b. $27,000 c. $20,000 d. $32,000 e. $47,000
The structural deficit does not depend on the state of the economy.
Answer the following statement true (T) or false (F)
In 2000, many economists believed that the most serious macroeconomic problem confronting the U.S. economy was an inflationary gap. Which policies would be effective in dealing with this problem?
A. Increase transfer payments. B. Increase government purchases. C. Decrease personal income taxes. D. Increase personal income taxes.