The merger of two firms selling close substitutes may lead to higher prices.
Answer the following statement true (T) or false (F)
True
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Jim is haggling with a car dealer over the sale price of a used car. When he entered the store, the storekeeper was already haggling with the other customer. His bargaining position could get worse if
a. The customer leaves b. Another customer enters the store, interested in the car c. He gets an offer from another seller d. All of the above
Which of the following is the most unstable category of GDP?
a. consumption b. investment c. government purchases d. net exports
The aggregate demand curve shows the quantity of domestic product
a. produced at each possible price level. b. demanded and produced at each possible price level. c. that is exported at each possible price level. d. demanded at each possible price level.
Ceteris paribus, if the AD shortfall equals $600 billion, then the federal government can close it by increasing
A. Taxes by more than $600 billion. B. Government spending by exactly $600 billion. C. Government spending by less than $600 billion. D. Taxes by exactly $600 billion.