Dole Co operates in a monopolistically competitive market. Which of the following characterizes Dole Co's market?
A) Dole Co. supplies a small portion of the market's output.
B) Dole Co.'s product is slightly different from its competitors.
C) Dole Co. faced no barrier to entry when it decided to enter its market.
D) All of the above describe Dole Co.'s market.
D
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Suppose that the economy is in long-run equilibrium and the government decided to engage in expected expansionary policy by increasing the money supply
If we assume rational expectations, which of the following statements is correct about the effect of expansionary policy in the long run? A) The unemployment rate will remain unchanged, real GDP will remain unchanged and the price level will decrease. B) The unemployment rate will increase, real GDP will increase and the price level will increase. C) The unemployment rate will remain unchanged, real GDP will remain unchanged and the price level will increase. D) The unemployment rate will decrease, real GDP will decrease and the price level will decrease.
Over half of U.S. currency is
A) held abroad. B) used in the underground economy. C) held by banks as reserves. D) held by businesses, especially retailers, for making transactions.