The general term for market structures that fall

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17) The general term for market structures that fall somewhere in-between monopoly and perfect competition is  __________.  A. monopolistically competitive markets B. imperfectly competitive markets C. incomplete markets D. oligopoly markets 18) For a college student who wishes to calculate the true costs of going to college, the costs of room and board  __________. 
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19) A tax on an imported good is called a __________.  20) Without trade, __________.  21) Which of the following statements about GDP is correct?  A. GDP increases if the total population increases. B. Money continuously flows from households to government and then back to households, and GDP measures  this flow of money. C. GDP measures two things at once: the total income of everyone in the economy and the unemployment rate. D. GDP is to a nation’s economy as household income is to a household. 22) The political business cycle refers to __________.  23) The open-economy macroeconomic model examines the determination of __________. 
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  • Spring '10
  • Smith
  • Business, Forward contract, following statements, publicly held corporation, Z corporation, GDP values production

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