With price leadership,
a. price equals marginal cost
b. the industry output is generally greater than a competitive industry
c. prices are set by explicit collusion
d. firms price discriminate among different classes of customers
e. there is no formal agreement regarding prices
E
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Brokers, in contrast to security dealers
A) hold inventories of securities. B) make their income through commissions. C) make their living on the spread between the bid price and the asked price. D) buy and sell securities at given prices.
Over the period between 1960 and 2010, the increase in unemployment rate was the greatest in
A) early 1960s. B) late 2000s. C) mid 1970s. D) early 1980s. E) early 1990s.
__________ cannot be touched; examples include integrity, confidence, and literacy
a. Tangible resources b. Intangible resources c. Societal resources d. Familial resources
Deviations from purchasing power parity will be increasingly higher as international trade tariffs become more restrictive. The main reason for this phenomenon is that:
a. arbitrage activities become less profitable. b. governments prefer purchasing power parity not to hold. c. the interest rate parity fails to hold. d. goods become more differentiated across countries. e. individuals develop hatred toward closed economies.