Mutual interdependence occurs when
A) all firms in an industry are affected by the same macro economic conditions, such as a recession, inflation, interest rates, exchange rates, etc.
B) the actions of firms are independent of each other.
C) the actions of one firm in an industry are easily recognized and perhaps copied by others.
D) monopolists recognize that they must face eventual competition in the long run.
C
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The primary feature of money is that it serves as
a. barter value. b. a medium of exchange. c. intrinsic value. d. commodity value.
Deflation refers to unemployment accompanied by severe inflation
a. True b. False Indicate whether the statement is true or false
When the U.S. Treasury issues new bonds to replace bonds that have matured, it is engaging in
A. Income transfers. B. Debt servicing. C. Discretionary fiscal spending. D. Debt refinancing.
A ________ is known as a combination or cartel consisting of firms that place their assets in the custody of the board of trustees.
Fill in the blank(s) with the appropriate word(s)