Which of the following is characteristic of an oligopolistic industry?
a. few firms
b. interdependence
c. large barriers to entry
d. All of the above
d
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The circular flow shows that
A) aggregate production equals aggregate expenditure. B) aggregate expenditure is less than aggregate income. C) GDP equals aggregate income. D) Both answers A and C are correct.
An estimator is unbiased if it produces
A. estimates of a parameter that are close to the true parameter. B. a parameter from the sample that equals the true parameter. C. estimates of a parameter that are on average equal to the true parameter. D. estimates of a parameter that are statistically significant. E. both b and c
Consumers will ________ interest-sensative consumption spending, when interest rates are higher
Fill in the blank(s) with the appropriate word(s).
Answer the following questions true (T) or false (F)
1. Government intervention in agriculture began in the United States in the 1890s. 2. Rent control is an example of a price floor. 3. Price floors are illegal in the United States.