Exam 1: Understanding Economic Systems and Business

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In 1947, the largest brewer in the U.S., Schlitz, had a 4.57 percent share of the domestic market.(Anheuser-Busch was number four in those days).The top ten brewers, including the number one brewer, had 29.29 percent of the domestic market.Over 70 percent of the domestic market was controlled by "all other" brewers.By the year 2001 the largest brewer was Anheuser-Busch, with a 54.76 share of the domestic market.The top ten brewers held 97.04 percent share of the domestic market in 2001.Thus, the brewing industry in the U.S.became a(n) _____ market structure.

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The slope of the demand curve is:

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When the Federal Reserve implements a _____, it tightens the money supply by selling government securities or raising interest rates.

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_____ refers to a government's programs for controlling the amount of money in circulation.

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