Oligopoly describes a market with:
A. many sellers.
B. one seller.
C. only a few sellers.
D. few or many sellers, but only one buyer.
C. only a few sellers.
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Maria Brown is a young tennis player who has shot to fame after defeating Sarah Knowels in three consecutive matches. In the fourth match, Sarah decided to serve left each time. Is this an optimal winning strategy for Sarah?
What will be an ideal response?
According to the shortsightedness effect, politicians tend to favor projects with:
a. long-run benefits and long-run costs. b. short-run benefits and short-run costs. c. short-run benefits and long-run costs. d. long-run benefits and short-run costs.
The 'WHAT goods and services does the US produce' question can best be answered using data about which of the following?
A. The distribution of output in markets, specifically among manufacturing, services, and agricultural sectors. B. Per capita GDP. C. The distribution of GDP among different income quintiles. D. Productivity.
If the price level falls, the money demand curve will
a) shift to the right b) shift to the left c) become steeper d) become flatter e) none of the above