Mutual interdependence applies to actions of:
a. monopolistic competitors.
b. oligopolists.
c. perfect competitors.
d. monopolists.
e. firms operating in different industries.
b
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___________ is the ability to recognize and use resources effectively
a. Efficiency b. Intuition c. Helpfulness d. Resourcefulness
Which of the following would not shift the aggregate demand curve?
A. Income tax rates B. Real interest rates C. Productivity rates D. Foreign-exchange rates
The hidden-cost fallacy occurs when
a. A firm considers irrelevant costs b. A firm ignores relevant costs c. A firm considers overhead or depreciation costs to make short-run decisions d. Both a and c
Under current policy, the Fed ties the discount rate to the
a. prime rate. b. AAA corporate bond rate. c. federal funds rate. d. long-term government bond rate.