The more differentiated the products produced by oligopolists, the more their behavior will resemble that of the monopolist.
Answer the following statement true (T) or false (F)
True
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In response to an unanticipated easing of monetary policy, the price level ________ at first, then ________ after a year
A) rises; returns most of the way to its original value B) falls; returns most of the way to its original value C) remains roughly unchanged; begins to rise D) remains roughly unchanged; begins to fall
If the inflation rate is 7 percent, real GDP growth is 2 percent, and the current budget deficit is $100 billion, what must the current national debt be if the debt-GDP ratio is to remain the same?
A) $1,111 billion B) $2,000 billion C) $1,429 billion D) $5,000 billion
Refer to the above figure. If the aggregate demand curve shifts beyond AD5, which of the following would we NOT expect?
A) strong demand-pull inflation B) no increase in real Gross Domestic Product (GDP) C) strong and rapid increases in the price level D) increases in real net domestic product
Which of the following is an example of a monopoly?
A.) One large firm supplies the entire product to the market B.) One firm supplies 60 percent of the product to the market and there are two other rival firms C.) Many firms supply the same product essentially, but each has significant brand loyalty D.) A few large firms supply the entire product to the market