In the United States the assignment of tasks and distribution of benefits
A) is determined by business firms.
B) is determined democratically.
C) is negotiated among potential buyers and potential sellers.
D) leaves all parties free to do as they prefer.
E) rests upon the principle of consumer sovereignty.
C
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A technological advance ________ aggregate supply, shifting the aggregate supply curve ________ and potentially bringing the ________ phase of the business cycle
A) decreases; rightward; expansion B) decreases; leftward recession C) increases; rightward; expansion D) increases; rightward; recession E) increases; leftward; expansion
Suppose the demand curve for hybrid cars shifts to the right. This will cause a relatively small increase in the price of hybrid cars if
A) both demand and supply are inelastic. B) demand is elastic and supply is inelastic. C) demand is inelastic and supply is elastic. D) both demand and supply are elastic.
Given the payoffs in the matrix shown, Firm B:
This prisoner's dilemma game shows the payoffs associated with two firms, A and B, in an oligopoly and their choices to either collude with one another or not.
A. should always choose to collude, regardless of Firm A's actions.
B. should always choose to compete, regardless of Firm A's actions.
C. should compete if Firm A competes and collude if Firm A colludes.
D. should compete if Firm A colludes and collude if Firm A competes.
If Allan lives in Boston and decides to buy a pair of hockey skates from Canada for $100, and the Canadian he bought them from buys a baseball hat and jersey for $100 from Boston, then the U.S. next exports:
A. and net capital outflow are both zero. B. and net capital outflow both equal ?$100. C. is zero and net capital outflow is ?$100. D. equals ?$100 and net capital outflow is zero.