In an oligopoly, output is
A) less than the output in monopoly.
B) greater than the output in perfect competition.
C) in all circumstances the same as the output in perfect competition.
D) somewhere between the output in monopoly and that in perfect competition outcomes.
E) in all circumstances the same as the output in monopoly.
D
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Real GDP is $9 trillion in the current year and $8.6 trillion in the previous year. The economic growth rate between these years has been
A) 5.67 percent. B) 4.65 percent. C) 10.31 percent. D) 7.67 percent. E) $0.4 trillion.
Which of the following makes long-term low-interest loans to LDCs?
a. International Monetary Fund (IMF) b. Agency for International Development (AID) c. World Bank d. New International Economic Order (NIEO)
A shift occurs in the supply curve for salt when:
A. the price of salt increases.
B. improvements are made in the production process.
C. salt is found to be associated with high blood pressure.
D. consumers expect the price of salt to increase in the future.
A small economy starts the year with $1 million in capital. During the course of the year, gross investment is $150,000 and depreciation is $50,000. How big is the economy's stock of capital at the end of the yea
What will be an ideal response?