One of the defining characteristics of a perfectly competitive market is
a. both buyers and sellers are well informed about the market
b. a small number of buyers
c. high barriers to entry
d. a small number of buyers but a large number of sellers
e. buyers are better informed about the market than sellers
A
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If the Federal Reserve raises or lowers interest rates too late, it could result in a ________ policy that destabilizes the economy
A) budgetary B) fiscal C) procyclical D) countercyclical
We know that products A and B are related goods, because when the price of A increases
A) the demand curve for B will shift to the right, because A and B are complementary goods. B) the quantity of B demanded will shift along its demand curve, because A and B are complementary goods. C) the demand curve for B will shift to the left, because A and B are complementary goods. D) the demand curve for B will remain unchanged because A and B are substitute goods.