What development turned the cable TV market into a contestable one?
A. Economies of scale.
B. Satellite and broadband technology.
C. Cable TV firms were earning economic profits.
D. Cable TV firms raised prices.
Answer: B
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Cartel agreements are more likely to break down when
A) there are few variations in market demand. B) new firms enter the market. C) participating firms earn huge profits. D) none of the above.
The market for loanable funds is a market in which:
A. savers supply funds to those who want to borrow for their investment spending needs. B. borrowers buy and sell loans. C. savers interact to set the interest rate for loans. D. borrowers supply funds to savers, who want loans for their investment spending needs.
Lower inflation rates are usually correlated with lower unemployment rates.
Answer the following statement true (T) or false (F)
If the nominal interest rate is 8 percent and the inflation rate is 3 percent, then the real interest rate equals:
A. 8 percent. B. 11 percent. C. 3 percent. D. 5 percent.