When oligopolistic firms interacting with one another each choose their best strategy given the strategies chosen by other firms in the market, we have
a. a cartel.
b. a group of oligopolists behaving as a monopoly.
c. a Nash equilibrium.
d. the perfectly competitive outcome.
c
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If the number of potential workers in a country is 25 million, and the size of the labor force in the country is 17 million, the number of adults not in the work force will equal:
A) 43 million. B) 8 million. C) 25 million. D) 17 million.
The mainstream orthodox treatment of the firm is based on the assumption of:
(a) Sales maximization. (b) Revenue maximization. (c) Profit maximization. (d) None of the above.
Use the following graph to answer the next question.
Assume that Japan and the United States are engaged in a system of flexible exchange rates. An increase in the demand for yen will result in a(n) ________.
A. appreciation of the U.S. dollar B. decrease in the dollar price of yen C. depreciation of the U.S. dollar D. depreciation of the Japanese yen
The beta for the market portfolio's level of nondiversifiable risk is:
A. zero. B. 1. C. 100. D. always fluctuating.