Suppose Kevin offers to match his competitors' prices in an oligopoly market. This will have the effect of:
A. providing consumers with the lowest possible price.
B. decreasing his competitors' incentive to reduce price.
C. driving out his competition.
D. triggering an antitrust investigation.
Answer: B
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) After immigration occurs, total business income in country B:
A. Increases by $475M
B. Increases by $50M
C. Decreases by $50M
D. Decreases by $475M
A stand-by letter of credit issued by a bank is __________ of that bank
A) an asset B) a liability C) technically both an asset and a liability D) neither an asset nor a liability
The International View of the Great Depression blames the contraction in the U.S. economy on
(a) the failure of the U.S. markets to permit a fall in aggregate prices under the gold standard or to devalue its exchange rate. (b) exports' and imports' large proportion of total GDP in the U.S. (c) Great Britain abandoning the gold standard. (d) all of the above.
According to the textbook, the real mean income of the top 5 percent of families increased by ________ percent from 1980 to 2016.
A. 13 B. 75 C. 55 D. 10