Perfect competition has all of the following features except
a. large number of firms
b. goods that are perfect substitutes
c. no barriers to entry
d. brand loyalty
e. firm has insignificant market share
D
Economics
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The central bank in the New Keynesian model pursues a policy of
A) fixed money supply. B) inflation between 2 and 3%. C) zero inflation. D) targeting the market interest rate.
Economics
If food is on the vertical axis and shelter on the horizontal axis, then the equation for the budget line can be expressed as
A. PsS + Pf = M. B. F = Pf - (Ps/Pf)S. C. S = M/Ps. D. S = M/Ps - (Pf/Ps)F.
Economics