The field of economics in which the tools of economics are used to understand the functioning of government is

The United Company competes with many other firms each producing slightly different products. Firms freely enter and exit this industry. The type of industry United Company operates in is

A) a monopoly. B) monopolistic competition. C) oligopoly. D) perfect competition. E) oligopolistic monopoly.

Which of the following observations concerning the Keynesian model is not true? a. It is helpful in explaining the events that unfolded in the 1930s

b. It is less useful in explaining today's economy. c. It explains the stagflation of the 1970s. d. It does not incorporate possible shifts in the aggregate supply curve.