When potential GDP increases, the potential GDP line ________, and the aggregate supply curve ________
A) shifts rightward; shifts rightward
B) shifts rightward; shifts leftward
C) shifts leftward; shifts rightward
D) shifts leftward; shifts leftward
E) shifts rightward; does not shift
A
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Government production accounts for about half of all GDP in the United States.
Answer the following statement true (T) or false (F)
If Big City Appliances is in tacit collusion with three smaller appliance firms and Big City Appliances consistently makes price changes that the other three firms then also make, this is an example of ________ by Big City Appliances.
A) price leadership B) a meet-or-release clause C) a meet-the-competition clause D) a precommitment
________ and ________ oligopolies are similar in that they both compete on quantity.
A) Cournot; Bertrand B) Stackelberg; Bertrand C) Cournot; Stackelberg D) Stackelberg; Chamberlin
Mac trucks and their dealers would likely have an organizational form of
a. fixed profit sharing franchise contracts b. spot market recontracting c. alliances d. vertical integration