If you got a new job and moved to Indianapolis, Indiana (population 800,000), you would expect to find more than 100 grocery stores (several Walmart Supercenters and Super Targets, several Krogers, Marshes and dozens of IGA affiliates and dozens more independent grocery stores). The market form is
A. perfect competition.
B. monopoly.
C. oligopoly.
D. monopolistic competition.
Answer: D
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Suppose the economy is at full employment and firms become more optimistic about the future profitability of new investment. Which of the following will happen in the short run?
A) The aggregate demand curve will shift to the left. B) Output will decline. C) Unemployment will decline. D) Prices will decline.
A private good is non-excludable and rival in consumption
a. True b. False Indicate whether the statement is true or false
The only two options to control the growth of healthcare spending are
a. price controls and political rationing or competition and market prices. b. taxation or political mandates. c. subsidizing of healthcare insurance or government provision of healthcare. d. free healthcare or subsidized healthcare.
If the economy were producing at point D and moved to point C the opportunity cost in terms of lost production of outboard motors would be
A. 2 units of outboard motors.
B. 4 units of outboard motors.
C. 12 units of outboard motors.
D. 11 units of robots.