Tacit collusion occurs in industries that
a. are monopolistically competitive
b. contain price leaders
c. experience rapid technological change
d. are regulated
e. produce very differentiated products
B
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Capital goods are
A. long-lived goods used for producing other goods and services. B. excluded from GDP. C. the end products of production. D. publicly provided.
The acronym NASDAQ (one of the stock exchanges) stands for
A. National Academy of Stock Dealers Automated Quotations B. New American Securities Dealers Automated Quotations C. National Association of Securities Dealers Automated Quotations D. North American Stock Dealers Automated Quotations
At the time of the American Revolution, the Industrial Revolution first launched in
(a) France. (b) Germany. (c) England. (d) Spain.
The income elasticity of demand is the
A) absolute change in quantity demanded resulting from a one unit increase in income. B) percent change in quantity demanded resulting from the absolute increase in income. C) percent change in quantity demanded resulting from a one percent increase in income. D) percent change in income resulting from a one percent increase in quantity demanded. E) percent change in income resulting from a one percent increase in price.