An oligopoly:
a. and monopolistically competitive market produce less and charge higher prices than if their markets were perfectly competitive.
b. is characterized by mutual interdependence of pricing decisions.
c. may be characterized by a kinked demand curve.
d. all of these.
d
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The expected return on dollar deposits in terms of foreign currency can be written as the ________ of the interest rate on dollar deposits and the expected appreciation of the dollar
A) product B) ratio C) sum D) difference
In the income-expenditure model, if autonomous investment decreases by $10 billion, _____
a. the aggregate expenditure line shifts upward by $10 billion b. planned saving increases by $10 billion c. the aggregate expenditure line shifts downward by $10 billion d. planned saving decreases by $10 billion e. the equilibrium level of real GDP demanded increases by $10 billion
The idea of the "invisible hand" tells us that individuals will pursue:
A. mutually beneficial trades with other individuals to maximize surplus. B. trades in which they will be the clear winner and the other will be a loser. C. the most equitable outcome possible. D. as few government policies as possible so the market can act freely.
First and foremost, a market consists of
a. substitute goods b. complementary goods c. goods produced by the same firm d. goods produced with the same inputs e. goods that serve dissimilar purposes, which is why they are grouped