Which of the following is NOT a way to deal with risk?
a. assuming
b. avoiding
c. shifting
d. deflecting
Ans: d. deflecting
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Monopolistically competitive markets and monopoly market have a common characteristic: high barriers to entry.
Answer the following statement true (T) or false (F)
If the price level rises, what will happen to aggregate supply?
a. It will shift outward. b. It will shift inward. c. Nothing. d. It will get steeper. e. It will get flatter.
Refer to the accompanying figure. If the current market price were $20:
A. there would be an excess demand of 25 units. B. the market would be in equilibrium. C. there would be an excess demand of 35 units. D. there would be an excess supply of 25 units.
If a strategic move is credible, it is likely to
A. change the actions of rivals. B. result in repeated, sequential interactions. C. be the dominant strategy of all the players in the game. D. result in self-enforcing outcomes.