Which is the most accurate statement?
A. The most important aspect of oligopoly is product differentiation.
B. An oligopolistic industry cannot have more than five firms.
C. There are virtually no oligopolies in the U.S.
D. There are a whole range of oligopolistic models, from a cartel to cutthroat competition.
D. There are a whole range of oligopolistic models, from a cartel to cutthroat competition.
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A monetarist economist believes that if the economy was left alone, it would rarely operate at full employment
Indicate whether the statement is true or false
The purpose of collateral and restrictive covenants is to reduce ________ in debt contracts
A) adverse selection B) transactions costs C) moral hazard D) loan amounts
Invention alone does not explain why free-market societies have experienced such rapid rates of economic growth.
Answer the following statement true (T) or false (F)
Increases in aggregate demand are likely to create
a) deflation during recessions b) inflation when the output gap is quite negative c) higher output when the output gap is negative, and inflation when output is at capacity d) reductions in output if the output gap is already positive e) both inflation and recession