A characteristic found only in oligopolies is
A) break-even level of profits.
B) interdependence of firms.
C) independence of firms.
D) products that are slightly different.
Answer: B
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Higher prices for ________ that are widely used across the entire economy can cause aggregate supply to shift.
a. inputs b. finished goods c. outputs d. products
The largest component of national income in the United States is
A) rental income. B) proprietors' income. C) compensation of employees. D) corporate profits. E) net interest.
Refer to the information provided in Table 22.5 below to answer the question(s) that follow.
Table 22.5
Refer to Table 22.5. If 2015 is the base year, the inflation rate between 2014 and 2015 is ________%, and the inflation rate between 2015 and 2016 is ________%.
A. 9.4; 11.2 B. 6.2; 16.1 C. 4.0; 4.9 D. 5.8; 5.8
Refer to the diagram, where T is tax revenues and G is government expenditures. All figures are in billions of dollars. If the full-employment GDP is $400 billion while the actual GDP is $200 billion, the actual budget deficit is:
A. $200 billion.
B. $20 billion.
C. $40 billion.
D. $60 billion.