Price leadership is when one firm sets price for the industry and the others follow.
Answer the following statement true (T) or false (F)
True
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Lack of competition in the United States banking industry can be attributed to
A) the fact that competition does not benefit consumers. B) the fact that branching has eliminated competition. C) recent legislation restricting competition. D) nineteenth-century populist sentiment.
Fixed costs are
A) a production expense that does not vary with output. B) a production expense that changes with the quantity of output produced. C) equal to total cost divided by the units of output produced. D) the amount by which a firm's cost changes if the firm produces one more unit of output.
In 2015, U.S. net exports were
a. positive and about 3 percent the size of GDP. b. positive and about 6 percent the size of GDP. c. negative and about 3 percent the size of GDP. d. negative and about 6 percent the size of GDP.
The federal budget process begins when federal agencies submit their budget requests to the:
A. Treasury Department. B. Council of Economic Advisors (CEA). C. Office of Management and Budget (OMB). D. Congressional Budget Office (CBO).