When oligopolists make joint decisions concerning their prices and output levels, they are
a. a natural oligopoly
b. colluding
c. a duopoly
d. a homogeneous oligopoly
e. practicing bilateralism
B
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The price of one good divided by the price of another good is a
A) money price. B) relative price. C) budget constraint. D) divisible good.
Suppose that the 12-month interest rates for the United States and the United Kingdom are 7% and 6% respectively, and E = 2.10 $/£. Given this information, what is the expected exchange rate change over the year?
A) 1% B) 4.2% C) 2.1% D) 2.0%
The annual rental rate for a machine is:
a. the yearly depreciation and maintenance costs for the machine. b. the yearly interest costs associated with owning the machine. c. the initial purchase price of the machine divided by the number of years the machine is expected to last. d. the sum of the yearly depreciation, maintenance, and interest costs associated with owning the machine.
When the Chairman of the Board of Governors explains in a television interview that the Fed hopes banks show more restraint in providing consumer credit because inflation is a problem, he is attempting to use
a. indirect theory instead of direct policy b. reason over passion in money matters c. selective media information d. moral suasion e. the paradox of thrift