Effective collusion generally is more difficult as the number of oligopolistic firms involved increases
a. true b. false
a
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In South Asia and Sub-Saharan Africa, about what share of output is contributed by agriculture?
(a) One tenth. (b) One fifth. (c) Two fifths. (d) One half.
Assume that for the fourth quarter of 2012, nominal GDP was $245 billion, potential real GDP was $260 billion, and the GDP deflator was 112. According to Okun's law, the cyclical unemployment rate during the fourth quarter of 2012 was
A) 2.9%. B) 3.1%. C) 8.0%. D) 8.4%.
Assume that supply decreases slightly and demand decreases greatly. Which of the following will happen?
a. Equilibrium price will fall and equilibrium quantity will rise. b. Equilibrium price will rise and equilibrium quantity will fall. c. Equilibrium price will rise and equilibrium quantity will rise. d. Equilibrium price will fall and equilibrium quantity will fall. e. Neither equilibrium price nor equilibrium quantity will change.
The most direct effect of an increase in the growth rate of average labor productivity would be an increase in
A. the unemployment rate. B. the long-run economic growth rate. C. imported goods. D. the inflation rate.