A duopoly in which both firms have a Lerner index of monopoly power equal to 0 is probably a:
A. Stackelberg oligopoly.
B. Bertrand oligopoly.
C. Cournot oligopoly.
D. Sweezy oligopoly.
Answer: B
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If Treasury deposits at the Fed are predicted to increase, the manager of the trading desk at the New York Fed bank will likely conduct ________ open market operations to ________ reserves
A) defensive; inject B) defensive; drain C) dynamic; inject D) dynamic; drain
Rent controls tend to _____ the housing supply and to _____ the rents that people in non-rent-controlled apartments pay.
Fill in the blank(s) with the appropriate word(s).
The reason for the merger of two businesses that sell unrelated goods but can share business practices and sales forces might best be explained by:
A. economies of scale. B. economies of scope. C. learning by doing. D. indivisible costs.
Which is the most important source of tax revenue for local governments?
A. Property taxes B. Corporate income taxes C. Sales and excise taxes D. Personal income taxes