The measure of money supply that includes the fewest types of assets:
a. is M4.
b. is M2.
c. is M3.
d. is M1.
e. is M0.
d
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Assume a firm lowers price below marginal cost to deter entry
A) This strategy is not credible. B) This strategy is credible. C) This strategy is illegal. D) This strategy is immoral.
Which of the following is NOT a necessary condition for oligopoly?
A) barriers to entry B) strategic dependence of firms C) differentiated products D) either a small number of firms or market dominance by a small number of firms
The circular flow diagram divides the economy into:
a. Winners and losers. b. Real sector and nominal sector. c. Domestic sector and foreign sector. d. Agricultural sector and non-agricultural sector. e. Producer sector and consumer sector.
________ is an attempt to ensure that more union labor is hired than producers would prefer. For example, a musician's union may require more musicians be employed in a Broadway musical than is required
a. Filibustering b. A lockout c. Binding arbitration d. Featherbedding