Examlex
Which of the following instruments is NOT used by the Federal Reserve to change the money supply?
Pure Monopoly
A market structure where a single seller controls the entire market for a product or service, with no close substitutes available.
Close Substitutes
Products or services that can easily replace each other in the eyes of the consumer, resulting in a high degree of interchangeability and competition.
Single Firm
A business or company that operates alone in its industry without competitors.
Purely Monopolistic
Characterizes a market scenario where one entity exclusively controls the entire market for a product or service, eliminating all direct competition.
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