Oligopoly differs from monopoly as follows:
A. Oligopoly involves a few firms; monopoly involves a single firm and oligopoly involves free entry; monopoly involves no free entry.
B. Oligopoly involves free entry; monopoly involves no free entry.
C. Oligopoly does use advertisement; monopoly does not use advertisement.
D. Oligopoly involves a few firms; monopoly involves a single firm.
Answer: D
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Risk premiums on corporate bonds tend to ________ during business cycle expansions and ________ during recessions, everything else held constant
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
If the government ran a major budget deficit, and there was no noticeable effect on the level of GDP, this could be taken as evidence of
a. Laffer curve effect. b. structural deficit. c. crowding-out. d. monetary policy ineffectiveness.
Suppose that you are a manager. You are considering whether or not to monitor employees with the payoffs in the normal-form game shown below.ManagerWorker??WorkShirk?Monitor-1,11,-1?Don't Monitor1,-1-1,1Which of the following pairs of strategies constitutes a Nash equilibrium?
A. Manager monitors and worker shirks. B. Manager does not monitor and worker works. C. Manager monitors and worker works. D. None of the answers is correct.
If the exchange rate between the British pound and the U.S. dollar was $1 = £0.67 last month, and the exchange rate is $1 = £0.72 this month, the U.S. dollar has appreciated relative to the British pound.
Answer the following statement true (T) or false (F)