All of the following are reasons for an oligopoly to occur EXCEPT
A) economies to scale.
B) barriers to entry.
C) independence among firms.
D) merger.
C
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In the Keynesian model, a $1 billion increase in autonomous consumption leads to ________ in short-run equilibrium output.
A. a $1 billion decrease B. a $1 billion increase C. no change D. a greater than $1 billion increase
A perfectly competitive firm in long-run equilibrium produces output at the lowest possible average total cost
Indicate whether the statement is true or false
What is the essence of the problem with targeting with fiscal policy?
A. In order to meet interest rate targets, fiscal policy must be enacted very quickly. B. It is difficult for the government to determine the target unemployment rate. C. Economic data takes time to analyze, so the government may not know when the economy has reached its target. D. The government may not have projects ready that will employ the people who are unemployed.
A decrease in the discount rate:
A. reduces the cost of borrowing from the Fed. B. signals the Fed's desire to decrease the money supply. C. signals the Fed's desire to reduce lending to commercial banks. D. increases the cost of reserves borrowed from the Fed.