If the yen appreciates in value against the dollar, the dollar must have depreciated against the yen
Indicate whether the statement is true or false
TRUE
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Two firms in an oligopoly can always do better if one firm buys the other.
Answer the following statement true (T) or false (F)
For the firm's cost minimization problem, one of the key assumptions for each input is that:
A) marginal product is constant. B) marginal product is increasing at a decreasing rate. C) marginal product is increasing at an increasing rate. D) marginal product is decreasing at an increasing rate.
Keynesian economists believe that the government should do what during a downturn in the economy?
a. Increase government spending and decrease taxes b. Increase government spending and increase taxes c. Decrease government spending and decrease taxes d. Decrease government spending and increase taxes
Which of the following attitudes will be held by a typical firm in a typical cartel?
a. If I alone cheat, I'm better off; if everyone cheats, I'm worse off. b. I can never do better for myself than by following agreed-upon cartel policies. c. If everyone cheats, I'm better off and so is everyone else in the cartel. d. If I suspect others are planning to cheat, I'll do best for myself by deciding not to cheat.