Increasing concentration always means an industry has become effectively monopolized.

Imperfect asset substitutability exists

A) when it is possible for the expected returns on two assets to be different. B) when the expected returns on two assets are the same. C) only when one asset is foreign and the other is domestic. D) when there is risk in the foreign exchange market. E) when assets are liquid.

Everything else held constant, when output is ________ the natural rate level, wages will begin to ________, decreasing short-run aggregate supply

A) above; fall B) above; rise C) below; fall D) below; rise