One indication that an industry might be oligopolistic is that prices change
A. infrequently.
B. frequently.
C. in rhythmic patterns.
D. on a regular, periodic basis.
Answer: A
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The sale of a used automobile would not be included in GDP of the current year because it is ________.
A. not a market transaction B. not current production C. a private transfer payment D. a purely financial transaction
The firm whose short-run cost curves are given in Exhibi has a long-run fixed cost of
A. $0. B. $2. C. $3. D. $4.
If the MPC is 0.8 and there are no crowding-out or accelerator effects, then an initial increase in aggregate demand of $120 billion will eventually shift the aggregate demand curve to the right by
a. $216 billion. b. $150 billion. c. $600 billion. d. $480 billion.
An increase in the supply of money will lead to ____ in equilibrium real GDP and ____ in equilibrium price level.
A. an increase; an increase B. an increase; a decrease C. a decreases; an increase D. a decrease; a decrease