The supply curve of land, in the market for uses of land, is:

In 2008, the rate of inflation was 2%, which then rose to 3% in 2009 before falling back to 2% in 2010. Between 2008 and 2009, the economy experienced _____ and between 2009 and 2010, the economy experienced _____.

a) inflation; disinflation b) inflation; deflation c) disinflation; inflation d) disinflation; deflation

Which of the following is a characteristic of an oligopolistic market structure?

A) There are few dominant sellers. B) Each firm sells a unique product. C) Each firm need not react to the actions of rivals. D) It is easy for new firms to enter the industry.