Price leadership works only if there is a single, dominant firm in the oligopoly
a. True
b. False
Indicate whether the statement is true or false
False
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Lauren and Katy each bought a new bike lock for $20. Both Lauren and Katy would have paid $25 for the lock. Katy's consumer surplus equaled
A) $10. B) $40. C) $5. D) $20. E) $50.
________ would be the source of a "real" business cycle
A) Unanticipated changes in monetary policy B) Anticipated changes in monetary policy C) Technology shocks D) all of the above
A convertible currency is a currency that may be freely exchanged for
A) domestic assets. B) only silver. C) only copper. D) national currency. E) foreign currencies.
Which of the following is a correct statement about unions in the United States?
A) The trend away from manufacturing and the deregulation of certain industries has promoted unionization of the U.S. workforce. B) Half of the top ten U.S. unions now have members who work in service and government occupations. C) Since the 1960s, there has been a gradual increase in the proportion of U.S. workers who are members of unions. D) Half of all U.S. workers are union members.