A unique feature of an oligopolistic industry is
A. large number of producers.
B. standardized products.
C. mutual interdependence.
D. low barriers to entry.
Answer: C
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Which of the following (if any) is not a factor affecting the profit performance of firms:
a. differential risk b. innovation c. managerial skills d. existence of monopoly power e. all of the above are factors
The primary benefit of the automatic stabilizers is:
a. they provide public assistance through legislative decision making b. they require no new legislative action, so there is no legislative lag before these tools respond to fluctuations in the business cycle. c. they require legislative action, so there is a lag in response to these tools to fluctuations in the business cycle, and there is time to identify the spillover effects. d. none of the above.
On average, over the last 50 years or so world trade has
a) increased faster than world output b) been primarily concentrated in agriculture c) been dominated by Middle East oil exports d) declined as nations closed their borders to imports e) been conducted almost exclusively over the internet