It is reasonable to expect that if one firm in an oligopolistic market raises price, the its competitors will do the same so that all firms can earn increased revenues
Indicate whether the statement is true or false
FALSE
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Let D= demand, S = supply, P = equilibrium price, and Q= equilibrium quantity
What happens in the market for walnuts if the Centers for Disease Control and Prevention announces that consuming a half cup of walnuts each week helps to lower levels of bad cholesterol? A) S increases, D no change, P decreases, Q increases. B) D increases, S no change, P and Q increase. C) D no change, S increases, P decreases, Q decreases. D) D and S increase, P and Q decrease.
What is the balance of trade is sometimes called?
a. balance of payments b. balance of exchange c. balance of financial capital d. balance of goods and services
The former communist countries of eastern Europe and the Soviet Union
a. have a better track record in environment protection than market economies. b. have a dismal environmental record. c. epitomize the ability of planned economies to protect the environment. d. have no water pollution problems.
Use the simple deposit multiplier to help show why the money supply increases when the Fed lowers the required reserve ratio (r)