The demand curve shown below has four points depicting possible total market oligopoly outcomes of quantity and price. For the given demand and price coordinates labeled A-D, pick the matching oligopoly models that lead to these comparative outcomes. 
A. A = Bertrand: B = Cournot: C = Stackelberg: D = Shared Monopoly
B. A = Shared Monopoly: B = Cournot: C = Stackelberg: D = Bertrand
C. A = Cournot: B = Bertrand: C = Stackelberg: D = Shared Monopoly
D. A = Shared Monopoly: B = Cournot: C = Bertrand: D = Stackelberg
Answer: B
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When the nominal price of a good increases over time, the real cost of buying the good
A) must increase. B) decreases because income also increases over time. C) does not change because income also increases over time. D) might increase, decrease, or stay the same depending on how much the CPI changed. E) might increase, decrease, or stay the same depending on how much income changed.
The most-favored-nation clause in U.S. trade agreements:
A. Gives special favors to Canada and Mexico because these nations border the United Sates B. Provides a comparative advantage in trade to those nations that have higher domestic opportunity costs in producing a product C. Means that lower tariffs negotiated with one nation with most-favored-nation status also apply to other nations with most-favored-nation status D. Offers favorable treatment to less developed nations to help improve economic growth in their economies
Investment spending will increase when
A) the interest rate rises. B) the corporate income tax increases. C) firms become more pessimistic about earning future profits. D) business cash flow increases.
The consumer price index (CPI) was 180 for 2009 when using 1995 as the base year (1995 = 100). Now suppose we switch and use 2009 as the base year (2009 = 100). What is the CPI for 1995 with the new base year?
A) 18.0 B) 55.6 C) 80.0 D) 111.2