Which of the following can allow oligopoly firms to reap monopoly profits?
a. Use of advanced technology
b. Formation of cartels
c. Independent decision making
d. High investment in advertising
b
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If two variables have the same rate of growth over the long run, their ratio will:
A) remain constant over the long run. B) initially decrease and then increase. C) decrease over the long run. D) increase over the long run.
Which of the following is NOT a reason that credit ratings agencies became more relevant beginning in the late 1970s?
A) the number of bond defaults rose due to periods of recession and inflation B) rating agencies began to charge investors for their services C) governments began to include bond ratings in their regulation of banks, mutual funds, and other financial firms D) rating agencies began to rate bonds issued by foreign governments and firms
A nominal wage is: a. always equal to the legal minimum wage
b. the same as the efficiency wage. c. measured in terms of the amount of goods and services it can purchase. d. measured in current dollars rather than in constant dollars. e. measured in constant dollars rather than in current dollars.
A decrease in the price of bubble gum below equilibrium will
A. Shift the bubble gum demand curve to the right. B. Cause a shortage of bubble gum. C. Cause a surplus of bubble gum. D. Shift the bubble gum supply curve to the right.