General equilibrium analysis:
A. is the study of competitive equilibrium in many markets.
B. illustrates the dependence among markets.
C. concerns competitive equilibrium in a single market, considered in isolation.
D. was pioneered by Nobel laureate Vernon Smith.
A. is the study of competitive equilibrium in many markets.
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What unethical methods might business communicators be tempted to use to make their case stronger?
a. Ignoring "What if?" questions b. Fudging the facts c. Omitting crucial information d. Exaggerating the point e. Gaining attention with a compliment
Compare and contrast the Bertrand and Cournot models of oligopoly. Your discussion should include assumptions made, goals of the firms and the resulting outcomes.
What will be an ideal response?
Output per worker is used to measure which economic indicator?
a. inflation b. specialization c. unemployment d. productivity
A reduction in the federal funds rate could be caused by an:
A. increase in the reserve requirement. B. increase in the discount rate. C. open market sale of government securities. D. increase in the excess reserves of the banking system.