A major characteristic of the theory of oligopoly is that:
a. there are no real-world examples.
b. the reactions of each firm depends on how the firm believes rivals will react.
c. in reality few oligopolies survive more than 10 years.
d. none of these.
b
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When a banker accepts a deposit of $1,000 in cash and puts $200 aside as required reserves and then makes a loan of $800 to a new borrower, this set of transactions
a. decreases the money supply by $1,000. b. decreases the money supply by $200. c. does not change the money supply. d. increases the money supply by $200. e. increases the money supply by $800.
In an economy with flexible exchange rates, which measure(s) are successful at reducing unemployment in the context of the Three-Sector-Model?
a. Decrease government spending. b. Lower the discount rate for banks. c. Raise tax rates. d. Increase reserve requirements. e. All of the above
Which of the following relationships is correct?
A. Stock of Inventories (End of Period) = Stock of Inventories (Beginning of Period) - Production - Sales B. Stock of Inventories (End of Period) = Stock of Inventories (Beginning of Period) - Production + Sales C. Stock of Inventories (End of Period) = Stock of Inventories (Beginning of Period) + Production - Sales D. Stock of Inventories (End of Period) = Stock of Inventories (Beginning of Period) + Production + Sales
To say individuals seek an "economically efficient" course of action is another way of saying they
A) waste precious resources. B) are not concerned about the wellbeing of anybody else. C) economize. D) measure everything according to the bottom line: money.