In which market structure do firms consider the actions of their rivals when setting prices and output?
a. monopoly
b. oligopoly
c. perfect competition
d. both monopoly and perfect competition
e. monopolistic competition
B
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The participation rate is
A) countercyclical B) more variable than GDP C) procyclical D) a leading variable
Olga owns her own business. Sven is an unpaid worker in his family's business. Who is included in the Bureau of Labor Statistics' "employed" category?
a. only Olga b. only Sven c. both Olga and Sven d. neither Olga nor Sven
How much is the average propensity to save when disposable income is $400 billion?
A. 0
B. .25
C. .50
D. .75
If profit regulation is used to control a natural monopolist, the monopolist is likely to
A. Reduce maintenance of plants and equipment. B. Increase the quality of its product in an effort to increase sales. C. Attempt to reduce the costs of production. D. Inflate or pad the costs of production.