Which of the following are quantity-setting oligopoly models?
A. Stackelberg.
B. Stackelberg and Cournot.
C. Cournot.
D. Bertrand.
Answer: B
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Fantastic growing conditions that produce a bumper crop of oranges on each tree this year will definitely make the short run supply of oranges more price elastic
Indicate whether the statement is true or false
Greenbacks were first issued
(a) by the Federal government to help the economy out of a recession in the 1850s. (b) by the States to pay for the construction of canals. (c) by the Federal government to help pay for the Civil War (1861–1865). (d) by banks during the Free Banking Era.
The rational expectations hypothesis is based on the assumption that
A. most firms operate in a less than competitive environment. B. individuals combine effects of past policy actions with their own judgment about future policy effects and changes when forming their expectations. C. individuals adapt in response to past policy actions and changes without looking ahead when forming their expectations. D. firms pay above equilibrium wages to their employees.
The cost of trash removal goes up, in part at least, because labor productivity in auto manufacturing goes up.
Answer the following statement true (T) or false (F)