The price charged by an oligopolist who has a kinked demand curve would be _______ than the price charged by a perfect competitor.
Fill in the blank(s) with the appropriate word(s).
higher
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Macroeconomic forecasting is made more difficult due to the fact that
A) deviations from trend in real GDP are persistent. B) turning points are hard to predict. C) there is no regularity in comovements. D) consumption is smooth.
If the U.S. dollar depreciates relative to the Swiss franc, then
a. Swiss goods become more expensive in the U.S. b. U.S. goods become more expensive in Switzerland c. Swiss investors will pay more Swiss francs to buy each U.S. dollar d. the U.S. will import more from Switzerland e. the U.S. dollar-Swiss franc exchange rate will decrease
If the government owns a nationalized firm, the prices are
a. set by an administrative agency of the government b. set by the free market c. high enough to make economic profits for the government d. determined by competition e. set to encourage efficiency and reduce waste
With the U.S. Social Security System, the burden of funding the system rests on:
A. the Social Security Administration. B. the current workers. C. the retirees. D. the federal government.