Political business cycles result _____
Fill in the blank(s) with the appropriate word(s).
from the economic fluctuations that occur when discretionary policy is manipulated for political gain.
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Factors that affect the ability of oligopolistic firms to successfully engage in cooperation include ____
a. number and size distribution of sellers b. size and frequency of orders c. product heterogeneity d. a and b only e. a, b, and c
When the market price is below the equilibrium price, the quantity of the good demanded exceeds the quantity supplied
a. True b. False Indicate whether the statement is true or false
Which of the following is not a determinant of elasticity?
a. availability of substitutes b. share of the consumer's budget spent on the amount c. duration of the adjustment period d. the location of the product
A noncooperative outcome after the center nation has undertaken a stabilization policy in response to an asymmetric shock would be that the:
A) center country abandons its own stabilization policy in favor of the home country. B) home country absorbs the losses resulting from the stabilization policy in the center country. C) center country makes concessions, recognizing the impact on the home country and thereby sharing the pain. D) peg is temporarily abandoned.