Imperfect Competition

question 350

Multiple Choice

Imperfect competition

• A) means there is no competition in the market.
• B) results in less efficient market outcomes.
• C) should always be regulated by the government
• D) is a major cause of externalities in the market.

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Definitions:

Money Supply

The complete tally of economic assets in an economy at a designated moment, such as cash, coins, and money in checking and savings accounts.

Net Exports

The value of a country's total exports minus the value of its total imports. It is a component of GDP that indicates a country's trade balance.

Money Supply

The sum of all financial assets in an economy at a specific time.

Interest Rates

The cost of borrowing money or the return for investing, usually expressed as a percentage per annum.