A main trading partner with the U.S. is:
A. South Africa.
B. Mexico.
C. Russia.
D. Saudi Arabia.
B. Mexico.
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Much of macroeconomics is concerned with advising governments on ways to ________ business cycles, since it is desirable to ________
A) amplify, create the greatest cyclical peaks possible B) amplify, create deep recessions to cool down the economy C) dampen, avoid both very low troughs and very high peaks D) dampen, keep the economy at its maximum productive capacity
A kink in the demand curve facing an oligopolist is caused by:
a. the belief that competitors will follow price increases but not match price decreases. b. excessive advertising. c. rapidly rising marginal revenues. d. the assumption that competitors will follow price reductions but not price increases.
If the demand for a good increases at the same time as the supply of the same good decreases, what will happen to the equilibrium price and quantity of the good?
Suppose a ten firm industry has total sales of $35 million per year. The largest firm have sales of $10 million, the third largest firm has sales of $4 million, and the fourth largest firm has sales of $2 million. If the rest of the industry has annual
sales of $12 million, the second largest firm has sales of A) $8 million. B) $7 million. C) $4 million. D) none of the above.