The key difference between oligopoly and other market structures is the interdependence among producers
a. True
b. False
Indicate whether the statement is true or false
True
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According to both the equation of exchange and the quantity theory of money
A) an increase in the money supply will decrease real Gross Domestic Product (GDP). B) a decrease in the money supply will decrease the velocity of money. C) a decrease in the money supply will decrease the price level. D) an increase in the money supply will increase real Gross Domestic Product (GDP).
The demand curve of a perfectly competitive firm is vertical
a. True b. False Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
1. If a market is defined more broadly, then the chances that firms in that market will be found to be violating antitrust laws based on the "structuralist" perspective will increase. 2. A conglomerate merger is a merger between firms at different stages of the production process of a product, such as a merger between a flour milling company and a baking company. 3. Strict enforcement of antitrust laws will generally complement the economic objective of encouraging new technologies that require large amounts of capital investment. 4. Public regulation rather than public ownership has been the primary means used in the United States to ensure that the behavior of natural monopolists is socially acceptable. 5. If the government regulates a natural monopoly and sets a "fair return" pricing policy, then the regulated firm will have greater incentive to improve its operating efficiency.
In a pure capitalist economy, "what to produce" is determined by
A. a central planning board. B. the price mechanism. C. the issuing of government coupons used along with money to purchase goods. D. None of these choices are true.