The monopolistic competition market structure is characterized by:
a. few firms and similar products.
b. many firms and differentiated products.
c. many firms and a homogeneous product.
d. few firms and a homogeneous product.
b
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According to economic analysis, the optimal level of pollution is
A) always zero. B) at the point at which the marginal benefits of pollution control exceed the marginal cost. C) at the point at which the marginal benefits of pollution control are less than the marginal cost. D) at the point at which the marginal benefits from pollution control are equal to the marginal cost.
Other things equal, an increase of Treasury bonds from $100 billion to $120 billion in the economy would:
A. not change the size of the public debt.
B. increase the public debt from $460 billion to $480 billion.
C. increase the public debt from $400 billion to $420 billion.
D. decrease the public debt by $20 billion.