Oligopoly arises with scale economies that are not large enough to cause a natural monopoly.
Answer the following statement true (T) or false (F)
True
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A Social Security system in which payroll taxes that workers and their employers pay in go directly to retirees and other beneficiaries is known as
A) a pay-as-you-go system. B) an individual-account system. C) a primary-deficit system. D) a social-lockbox system.
The majority of transactions in foreign exchange markets involve ________
A) transactions one the New York Stock Exchange B) exchanging one set of physical notes for another C) exchanging bank deposits denominated in different currencies D) buying and selling Treasury securities
The natural rate of unemployment is:
a. Fixed and unchanging in the long-run. b. The rate that governments should use as their goal, in the sense that they should apply prudent monetary and fiscal policies to achieve it. c. The unemployment rate to which a nation gradually moves if the real wage is free to fluctuate and the nation's actual inflation rate equals its expected inflation rate. d. Basically a long term goal that no country every really achieves, but it serves as a Northern Star for policy makers. e. None of the above.
The retail part of the foreign exchange market does not include traders at banks trading with
A. traders at other banks. B. nonfinancial companies that sometimes want to buy and sell different currencies. C. stock brokers who trade in the assets of the firms in different nations. D. national governments.