The market structure that is characterized by a small number of large firms that have some market power is called:

The shortage created by a rent ceiling below the equilibrium rent is smallest when the demand for housing is ________ and the supply of housing is ________

A) elastic; elastic B) elastic; inelastic C) inelastic; elastic D) inelastic; inelastic E) unit elastic; unit elastic

Three-wheel cars made in North Edsel are sold for 5000 pounds. Four-wheel cars made in South Edsel are sold for 10,000 marks. The real exchange rate between North and South Edsel is four three-wheel cars for three four-wheel cars

The nominal exchange rate between the two countries is A) 0.50 marks/pound. B) 0.66 marks/pound. C) 1.50 marks/pound. D) 2.00 marks/pound.