A reaction function is
A. a game in which firms will not negotiate in any way.
B. companies colluding in order to make higher than competitive rates of return.
C. the manner in which one oligopolist reacts to a change in price made by another oligopolist in the industry.
D. when plans made by firms are known as game strategies.
Answer: C
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If the money wage rate rises,
A) the AS curve shifts leftward. B) there is a movement down along the AS curve. C) there is neither a movement along or a shift in the AS curve. D) the AS curve shifts rightward. E) there is a movement up along the AS curve.
________ in the expected future domestic exchange rate causes the demand for domestic assets to increase and the domestic currency to ________, everything else held constant
A) An increase; appreciate B) An increase; depreciate C) A decrease; appreciate D) A decrease; depreciate
Which of the following categories account for the smallest fraction of unemployed workers?
a. Job leavers b. Job losers c. Reentrants d. New entrants
A(n) _____ is the benefit or a cost of an activity that affects third parties
Fill in the blank(s) with the appropriate word(s).