A firm that does business in many different countries is called a __________________.
Fill in the blank(s) with the appropriate word(s).
multinational corporation
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If Happy Cleaners and Sparkle Cleaners are in a Cournot oligopoly, the Cournot equilibrium will ________.
A) occur at a point on Happy Cleaners' best-response curve, but not Sparkle Cleaners' best-response curve B) provide an incentive for both firms to adjust their output C) occur at the intersection of Happy Cleaners' and Sparkle Cleaners' best response curves D) only occur if Happy Cleaners and Sparkle Cleaners form a cartel
Both Google and Facebook make their money by charging advertisers to run their ads, and the bigger an audience they have, the more they can charge.
Answer the following statement true (T) or false (F)
Assume that full-employment national income is Y = $1,200 billion, the current equilibrium national income is Y = $1,600 billion, and the MPC = 0.8 . In order to bring the economy to a full-employment national income,
a. the recessionary gap can be closed by increasing aggregate expenditure by $80 billion b. the inflationary gap can be closed by cutting aggregate expenditure by $80 billion c. nothing is needed to bring the economy into full employment equilibrium d. the recessionary gap can be closed by increasing aggregate expenditure by $400 billion e. the inflationary gap can be closed by cutting aggregate expenditure by $400 billion
Most modern monetarists believe that
A. the capitalist system is inherently unstable and unpredictable. B. structural economic changes are major causes of business cycles. C. inflation is explained by too rapid a rate of growth of the nominal money supply, resulting in "too much money chasing too few goods." D. deflations are caused by contagious pessimism among investors.