When managers in oligopolistic firms make decisions that affect output or price, they must
A. register with the Antitrust Division of the Department of Justice.
B. anticipate the reactions of their rivals and plan accordingly.
C. inform the regulators of their industry about their plans.
D. also be sure they erect barriers to entry to prevent new entrants from affecting their plans.
Answer: B
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The marginal revenue curve for a monopolist is
A. always above the demand curve. B. generally below the average cost curve. C. always above the average revenue curve. D. always below the demand curve.
Assume that the government increases spending and finances the expenditures by borrowing in the domestic capital markets. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. The GDP Price Index rises, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). b. The GDP Price Index rises, and net nonreserve-related international borrowing/lending becomes more negative (or less positive). c. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more positive (or less negative). d. The GDP Price Index and net nonreserve-related international borrowing/lending remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Sustained economic growth and rising living standards was first made possible because of the _____________.
Fill in the blank(s) with the appropriate word(s).
Refer to the information provided in Table 33.4 below to answer the question(s) that follow. Table 33.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60 Refer to Table 33.4. Germany has
A. an absolute advantage in wine production. B. an absolute advantage in beer production. C. a comparative advantage in beer production. D. all of the above.