Bargaining between the management of a company and the management of a union is
A. a bilateral monopoly.
B. collective bargaining.
C. an open shop.
D. a closed shop.
Answer: B
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To discourage future breakdowns in cooperation in a repetitive game, ______. a. oligopolists should place penalties in the game
b. oligopolists should allow a flexible boundary on output. c. oligopolists should allow flexibility in prices. d. oligopolists should decrease the number of firms in a cartel.
Which of the following statements is false?
A) The issuer of a bond is a borrower. B) The person who buys a bond is a lender. C) Interest earned on corporate bonds is exempt from federal income taxes. D) The coupon rate on a bond is the percentage of the face value that the bondholder receives annually until the bond matures.
When output is 20, fixed costs are $100 and variable costs are $400. When output rises to 21, fixed costs are $100 and variable costs are $450. This implies that the marginal cost of the last unit of output equals:
A. $550. B. $25. C. $50. D. $500.
During a recession, we generally see
a. real GDP rising and unemployment rising b. real GDP falling and unemployment rising c. real GDP rising and inflation rising d. real GDP rising and inflation staying stable