Which of the following products would most likely be produced in a monopolistically competitive market?
A) corn
B) crude oil
C) local water supply
D) pizza
Answer: D
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If households expect an increase in their future incomes, they will save
A) less and consume more today. B) more and consume less today. C) and consume more today. D) and consume less today.
In order to have an effect, a price ceiling must be set ________
A) above the equilibrium price B) equal to the equilibrium price C) below the equilibrium price D) by suppliers
What is the benefit to an insurance company of selling health insurance through an employer?
a. High-risk customers are identified and can be charged more. b. Low-risk customers are identified and can be charged less. c. High- and low-risk customers are mixed together into a single group. d. Low-risk customers can opt out of the health insurance plan.
Explain how the Fed would use its four tools to decrease and to increase the money supply