Which of the following is a characteristic of an oligopolistic market structure?
A) There are few dominant sellers. B) Each firm sells a unique product.
C) Each firm need not react to the actions of rivals. D) It is easy for new firms to enter the industry.
A
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A surplus of cardboard boxes means that
A) at the current price of a cardboard box, the quantity demanded exceeds the quantity supplied. B) at the current price of a cardboard box, the quantity demanded is less than the quantity supplied. C) the current price of a cardboard box is less than the equilibrium price. D) at the current price of a cardboard box, the quantity demanded equals the quantity supplied and the price will fall to restore the equilibrium. E) More information is needed to determine if the price of cardboard boxes is higher than, lower than, or equal to the equilibrium price.
By definition, the labor force participation rate is
A) the percentage of institutionalized working-age individuals who are employed or seeking employment. B) the percentage of noninstitutionalized working-age individuals who are employed or seeking employment. C) the annual rate of growth in the number of people who are either employed or searching for available jobs. D) the annual rate of growth in the number of people who are unemployed and searching for available government-provided unemployment benefits.
An expansionary fiscal policy can:
(a) Raise the national debt; (b) Decrease the national debt; (c) Have no effect on national debt; (d) None of above.
One way for governments to try and minimize the effects of structural unemployment is to:
A. subsidize retraining programs for unemployed workers to learn new skills. B. provide information to unemployed people about which professions are experiencing rising demand for labor. C. offer low-interest loans to unemployed workers to go back to school to learn new skills. D. All of these are ways the government can deal with structural unemployment.