The specific oligopolistic model used in a market
A) depends on the pricing structure of the good or service sold.
B) depends on the characteristics of the market, such as time horizon for competition.
C) is usually a Cournot model, unless cartels are illegal.
D) All of the above.
B
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If Sam does not have a job and is NOT looking for work, he is considered
A) unemployed and not in the labor force. B) not in the labor force. C) unemployed. D) unemployed and in the labor force.
With a nominal interest rate of 5% per year, the present discounted value of $100 to be received in 10 years is
A) $50.00. B) $61.39. C) $95.24. D) $150.00. E) $163.89.
In addition to interest on loans, another major source of funds for banks is
A. interest-free loans from the Federal Reserve to banks. B. subsidies from the U.S. Treasury. C. inflation. D. the fees charged to depositors.
One reason why, in the last four decades, the number of new auto makers in the world has been very small compared to the past is that
A) the automobile cannot be improved upon in any way by new producers. B) new auto makers cannot obtain necessary inputs to produce new cars. C) governments restrict who can produce automobiles. D) new producers cannot match the economies of scale of existing auto makers.