Double markup problems arise when
a. upstream firms have no market power
b. downstream firms have no market power
c. upstream and downstream products are complementary in demand
d. upstream and downstream firm's pricing decisions tend to increase the demand for the other product
c
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Which of the following is a characteristic of a monopoly firm?
A) horizontal individual demand curve B) barriers to entry C) easy entry and exit D) many buyers and sellers
If real GDP in Sweden was SEK 822 billion at the end of 1993 and SEK 950 billion at the end of 1994, we can say that the Swedish economy grew at an annual rate of 7% in 1994
a. True b. False Indicate whether the statement is true or false
Say's Law refers to the concept that: a. increases in aggregate demand create unionization. b. demand creates its own supply
c. supply creates its own demand. d. flexible wages affect price levels.
Open-market operations are such a powerful tool of monetary policy that they are seldom used
a. true b. false