When a supply curve or a demand curve shifts, the equilibrium price and equilibrium quantity change
a. True
b. False
Indicate whether the statement is true or false
True
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A firm is said to be a price taker if it:
A) can affect the market price of goods by changing its supply. B) sells as much of any good as it wants at the prevailing market price. C) consults the government before fixing the price of its goods and services. D) is not free to enter a new market or exit from an existing market.
The difference between a bank's assets that will be re-priced in less than one year and the bank's liabilities that will be re-priced in less than one year expressed as a percent of total assets is
A) a measure of liquidity risk. B) called the GAP ratio. C) earnings at risk ratio. D) a measure of credit risk.
An oligopoly has ______ sellers in the market.
A. 0 B. 1 C. 3 D. many
Define collusion