Which of the following will be an obstacle to oligopolistic collusion in a market?
a. government regulations restricting entry
b. a relatively small number of oligopolistic firms
c. unstable demand conditions
d. uniform products
C
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When there is a decrease in labor supply, real wages are likely to
A) remain the same. B) decrease. C) increase. D) allow less leisure time.
The nominal exchange rate is
A) the difference between the interest rate in one country and the interest rate in another country. B) the rate at which a bond may be exchanged for currency. C) the rate at which a stock may be exchanged for currency. D) the price of one country's currency in terms of another's.
If the LRAC curve for Company A has a clear minimum point without a curved bottom, then Company B will have ________________ if it produces a different number of units.
a. lower costs b. higher costs c. lower profits d. higher profits
An outward shift of the production possibilities curve represents
A. economic recession. B. economic contraction. C. economic growth. D. economic inflation.