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2781EconomicsMedium

If a few firms dominate an industry the market is known as?

Amonopolistic competition

BDuopoly

CCompetitively monopolistic

DOligopoly

Correct answer

D. Oligopoly

Explanation

The correct answer is Oligopoly.

2782EconomicsMedium

Which of the following policy actions by a central bank is likely to increase the money supply?

ABuying government bonds in open market operations

BAll of these will increase the money supply

CIncreasing the refinancing rate

DIncreasing reserve requirements

Correct answer

A. Buying government bonds in open market operations

Explanation

The correct answer is Buying government bonds in open market operations.

2783EconomicsMedium

The concept of opportunity cost?

ASuggests all our wants can be achieved.

BWould be relevant if we eliminated poverty

CSuggests a major increase in public health care spending means an expansion in other areas will be harder to achieve.

Dis relevant only for a capitalist economy like the United States.

Correct answer

C. Suggests a major increase in public health care spending means an expansion in other areas will be harder to achieve.

Explanation

The correct answer is Suggests a major increase in public health care spending means an expansion in other areas will be harder to achieve..

2784EconomicsMedium

Injections?

ADecrease aggregate demand

BAlways equal national income

Cinclude investment and export spending

DAlways equal savings

Correct answer

B. Always equal national income

Explanation

The correct answer is Always equal national income.

2785EconomicsMedium

The record of country’s transfers of land inter-government payments and money sent by migrants to and from abroad is called its?

Afinancial account of the balance of payments

Bbalance of payments

Cbalance of payments on current account

Dcapital account of the balance of payments

Correct answer

D. capital account of the balance of payments

Explanation

The correct answer is capital account of the balance of payments.

2786EconomicsMedium

GDP would include which of the following?

Aillegal drug sales

Bthe value of taking a day off from work

Cintermediate sales

Dconsulting services

Ehousework

Correct answer

D. consulting services

Explanation

The correct answer is consulting services.

2787EconomicsMedium

Throughout most of humankind’s existence, population grew at a rate of ________ per year?

A10%

B2%

C0.5%

D0.002%

Correct answer

D. 0.002%

Explanation

The correct answer is 0.002%.

2788EconomicsMedium

Dani Rodrik points out that?

Aan economy more open to foreign trade and investment faces a more inelastic demand for unskilled workers

Bglobalization increases job insecurity

Cemployers and consumers can more readily replace domestic workers with foreign workers by investing abroad or buying imports

Dfinancial liberalization in LDCs leads to collapse of the economy

Correct answer

B. globalization increases job insecurity

Explanation

The correct answer is globalization increases job insecurity.

2789EconomicsMedium

Gestalt psychology looks at________?

Ainstincts

Bphysical appearance

Cseparate items of personality

Dbehavior as whole

Correct answer

D. behavior as whole

Explanation

The correct answer is behavior as whole.

2790EconomicsMedium

The extra utility from consuming one more unit of a good is called?

ABonus utility

BSurplus utility

CMarginal utility

DAdditional utility

Correct answer

C. Marginal utility

Explanation

The correct answer is Marginal utility.

Which of the following policy actions by a central bank is likely to increase the money supply?

ABuying government bonds in open market operations

BAll of these will increase the money supply

CIncreasing the refinancing rate

DIncreasing reserve requirements

Correct answer

A. Buying government bonds in open market operations

Explanation

The correct answer is Buying government bonds in open market operations.

The concept of opportunity cost?

ASuggests all our wants can be achieved.

BWould be relevant if we eliminated poverty

CSuggests a major increase in public health care spending means an expansion in other areas will be harder to achieve.

Dis relevant only for a capitalist economy like the United States.

Correct answer

C. Suggests a major increase in public health care spending means an expansion in other areas will be harder to achieve.

Explanation

The correct answer is Suggests a major increase in public health care spending means an expansion in other areas will be harder to achieve..

Dani Rodrik points out that?

Aan economy more open to foreign trade and investment faces a more inelastic demand for unskilled workers

Bglobalization increases job insecurity

Cemployers and consumers can more readily replace domestic workers with foreign workers by investing abroad or buying imports

Dfinancial liberalization in LDCs leads to collapse of the economy

Correct answer

B. globalization increases job insecurity

Explanation

The correct answer is globalization increases job insecurity.