The copper, aluminum, cement, and industrial alcohol industries are examples of:
A. interproduct competition.
B. homogeneous oligopoly.
C. monopolistic competition.
D. differentiated oligopoly.
Answer: B
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Teddy buys only chocolate chip cookies and hot chocolate and spends all of his income on the two items. Suppose the price of a cookie rises. According to marginal utility theory, Teddy buys
A) more cookies. B) fewer cookies. C) more hot chocolate. D) an equal amount of cookies and hot chocolate.
What effect does expansionary monetary policy have on short-term real interest rates?
a. Expansionary monetary policy tends to push short-term interest rates upward. b. Expansionary monetary policy tends to push short-term interest rates downward. c. The effect of expansionary monetary policy on short-term interest rates is unpredictable. d. Expansionary monetary policy has no effect on short-term interest rates.