An oligopoly is an industry with just one firm.
Answer the following statement true (T) or false (F)
False
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Society's core economic problem is
a. the role of government in the economy b. a scarcity of land, labor, and machinery to produce goods and services c. the federal budget deficit d. an unequal distribution of income e. low living standards
Which of the following is not included in Nation A's reserves account in the balance of payments?
a. Changes in official gold holdings. b. The stock official (i.e., central bank) holdings of foreign currencies. c. Increases in borrowing rights at the International Monetary Fund. d. All of the above are included in reserves.
A recent outbreak of hepatitis was linked to a national fast-food restaurant chain. This is an example of a case in which
a. brand name identity increases the effectiveness of markets. b. brand name identity can be detrimental to the profitability of a firm. c. advertising is ineffective in salvaging perceptions of product quality. d. advertising cannot be used to establish brand loyalty.
Assume a study indicates that attending a class on blackjack strategy improved average winnings by 50 percent. If the null hypothesis is true and the p-value for the 50 percent improvement in winnings is 0.04, then there is a ________ chance of improving your blackjack winnings by 50 percent.
A. 0.2% B. 0.4% C. 4% D. 20%