Monopolistic competition is characterized by which of the following attributes: i. Many sellers ii. Product differentiation iii. Significant barriers to entry

In which market structure does one firm sell a good or service with no close substitutes and there is a barrier blocking the entry of new firms?

A) only monopoly B) only oligopoly C) perfect competition D) monopolistic competition E) either monopoly or oligopoly

If the Fed simultaneously reduces the discount rate and the required reserve ratio, the money supply will:

A. remain unchanged. B. contract. C. expand. D. take on a value that cannot be determined from the information given.