The general term for market structures that fall somewhere between monopoly and perfect competition is
a. incomplete markets.
b. imperfectly competitive markets.
c. oligopoly markets.
d. monopolistically competitive markets.
b
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According to the Application, economist John B. Taylor found that the temporary tax cuts which were a part of the 2009 stimulus package
A) were primarily used to pay off home mortgage balances. B) were split very evenly between consumption spending and household saving. C) were very successful in stimulating consumption spending. D) did very little to stimulate consumption spending.
The world price of a commodity will settle at the level where a. supply and demand are equal within each country
b. the excess demand of the importing country is just equal to the excess supply of the exporting country. c. the excess demand in the exporting country is equal to the excess demand in the importing country. d. there is no excess demand in the exporting country.