A duopoly is
A. An illegal, price-fixing cartel.
B. a two-firm oligopoly.
C. a two-firm monopoly.
D. an identical pair of perfectly competitive industries.
Answer: B
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The quantity theory asserts that real GDP is
A) not influenced by the quantity of money. B) never different from potential GDP. C) equal to nominal GDP multiplied by the quantity of money. D) equal to nominal GDP divided by the quantity of money.
How do the Fed's actions influence real GDP and how long does it take for real GDP to respond to the Fed's policy changes?
What will be an ideal response?
What is the most likely effect of the development of XBOX with DVD capabilities on the DVD player industry?
a. Increased price elasticity of demand for the DVD player industry because XBOX are complements b. decreased price elasticity of demand for the DVD player industry because XBOX are complements c. Increased price elasticity of demand for the DVD player industry because XBOX are substitutes d. decreased price elasticity of demand for the DVD player industry because XBOX are substitutes
State and local government spending has _______________ during the last four decades.
a. decreased b. remained flat c. increased d. stabilized