Oligopolists use advertising as a way of differentiating their products.
Answer the following statement true (T) or false (F)
True
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What are three reasons that the interest-rate parity condition may not always hold?
What will be an ideal response?
In the presence of asymmetric information, a contingent contract
A) achieves production efficiency. B) can lead to opportunistic behavior on the part of the agent. C) is impossible to write. D) will result in the principal earning all of the profit.
Local government expenditures depend on which taxes?
A) revenues from licenses and permits B) local property, sales, and excise taxes C) capital gains taxes D) Social Security taxes
Over the inelastic range of a demand curve, there is
A) a positive relationship between a given percentage change in price and a change in total revenues. B) a negative relationship between a given percentage change in price and a change in total revenues. C) an increase in total revenues regardless of an increase or decrease in price. D) no relationship between changes in price and changes in total revenues.