An oligopoly is a market dominated by a few sellers.
Answer the following statement true (T) or false (F)
True
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According to the dependence theory, the developing world is known as the
a. backward areas. b. periphery. c. first world. d. center.
Which of the following is the significance of a country's price index? a. It helps in measuring changes in the nominal interest rate in a country
b. It helps in measuring the total disposable income of a country. c. It helps in determining a country's real GDP each year. d. It helps in measuring changes in the prices of only luxury goods. e. It helps in measuring the demand for goods and services exported by a country.
Which term describes a good in which the quantity demanded rises as income rises, and in which quantity demanded falls as income falls?
a. Complement good b. Inferior good c. Normal good d. Superior good
If the home currency has a real depreciation, what is the situation?
A) it takes more home goods to purchase the same quantity of foreign goods B) it take fewer home goods to purchase the same quantity of foreign goods C) the nominal exchange rate must have risen D) the nominal exchange rate must have fallen