The way in which an oligopolist acts in response to a price change by a competitor is known as a
A. positive-sum game.
B. zero-sum game.
C. cooperative game.
D. reaction function.
Answer: D
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In comparing tariffs and quotas, we know that
A. tariffs raise revenues for the federal government, while quotas do not. B. both raise revenues for the federal government. C. neither raises revenues for the federal government. D. quotas raise revenues for the federal government, while tariffs do not.
Refer to the information provided in Figure 24.4 below to answer the question(s) that follow.
Figure 24.4Refer to Figure 24.4. What is the value of the expenditure multiplier?
A. 5 B. 8 C. 10 D. 20
Why do our political leaders favor exports of U.S. goods and "buy American" policies?
What will be an ideal response?
Which of the following is NOT a union wage and employment strategy?
A) ensuring employment for all members of a union B) maximizing aggregate income of workers C) maximizing wage rates for some workers D) minimizing the adjusted gross income of non-members