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Market Structure
1. Explain one way a monopoly can negatively impact consumers. Provide an example to support your answer.
2. What is a key difference between a monopoly and an oligopoly? How might this difference affect pricing and competition?
Macroeconomic Objectives
1. Define the natural rate of unemployment and explain why it is not considered zero. Include one type of unemployment that contributes
to it.
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Unit 4
Imagine an economy that is currently facing an inflationary gap. Explain using both an LRAS/AD model and a Longrun Phillips Curve why, in
the absence of government intervention, inflationary pressures may continue to increase.
Unit 2
Explain these concepts
1. Tragedy of the commons
2. Demerit goods
3. Perfect competition
4. Allocative efficiency
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