To understand most of today's economic activity in the U.S. economy, we should look at which of the following models?
a. perfect competition and pure monopoly
b. perfect competition and oligopoly
c. oligopoly and monopolistic competition
d. monopolistic competition and monopoly
c
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Since 1998, the U.S. federal government has continuously run a budget surplus
Indicate whether the statement is true or false
In making a decision about whether to increase its advertising budget the firm management should not consider
A. the added cost of producing more goods for sale. B. the cost of the increased advertising. C. the added revenue from increased sales. D. interest payments on the firm's loan. E. none of the above
Goods like Wi-Fi networks that are nonrival but excludable are known as:
A. collective goods. B. private goods. C. commons goods. D. pure public goods.
Recall the Application about the possible link between interest rates and commodity prices worldwide to answer the following question(s).According to this Application, which is a theoretical explanation for why commodity prices rise with expansionary monetary policy?
A. Lower interest rates lower the cost of holding commodities in inventories, resulting in an increase in the commodity demand. B. Lower interest rates raise the cost of holding commodities in inventories, resulting in an increase in the commodity demand. C. Higher interest rates lower the cost of holding commodities in inventories, resulting in an increase in the commodity demand. D. Lower interest rates lower the cost of holding commodities in inventories, resulting in a decrease in the commodity demand.