Historically speaking, business fluctuations in an economy were more commonly referred to as
A. inflationary pressures.
B. economic growth.
C. business cycles.
D. bulls and bears.
Answer: C
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Game theory is most useful in understanding the decision making behavior of firms in which type of industry?
a. perfect competition b. monopoly c. monopolistic competition d. natural monopoly e. oligopoly
In an oligopoly market, firms do not produce identical product
a. True b. False Indicate whether the statement is true or false
An excess demand for domestic currency at current exchange rates is known as a
A. Balance-of-payments surplus. B. Trade surplus. C. Trade deficit. D. Balance-of-payments deficit.
Governments often establish rules that influence how an economy operates. Which of the following rules will most likely increase the ability of society to produce goods and services?
A) laws allowing discrimination against women. B) providing tax incentives to encourage education by workers C) environmental regulations that prevent the use of industrial solvents in production D) increasing taxes on the formation of new capital