Under perfect competition, firms are relatively ignorant of the actions of their competitors.
Answer the following statement true (T) or false (F)
False
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Refer to Figure 15-15. In the figure above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could the Federal Reserve use to move the economy to point C?
A) decrease income taxes B) sell Treasury bills C) decrease the required-reserve ratio D) buy Treasury bills
The term "business fluctuations" refers to
A) changes in overall business activity, as evidenced by changes in national income, employment, and the price level. B) changes in the general price level from inflation to deflation, or vice versa. C) changes in the full employment level of economic activity. D) changes in the value of the dollar.
Measuring the intensity of the business cycle requires
a. adding seasonal variations to cyclical fluctuations. b. adding seasonal variations and random fluctuations to cyclical changes. c. eliminating seasonal variations and identifiable random forces from the data. d. multiplying the trend by the cyclical fluctuations.
In a theoretical sense, the "entrepreneurs" at a corporation are its
a. managers b. stockholders c. bondholders d. research and development staff e. boards of directors