Expansionary and contractionary gaps are automatically eliminated by shifts in aggregate demand
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following does NOT influence the type of oligopoly that forms?
A) Whether firms act sequentially or simultaneously. B) Whether firms set price or quantity. C) The type of demand curve the firms face. D) The time horizon over which firms will be in competition.
One of the most significant developments in labor supply in recent times is the increase in the labor force participation of married women
a. True b. False Indicate whether the statement is true or false
Antitrust activities by the government:
A. can cause inefficiencies. B. sometimes increase the efficiency of a market. C. are accused of being politically motivated. D. All of these statements are true.
Which of the following statements is true?
A) In Romania under Communist Party rule in the 1980s, Kent cigarettes served as a medium of exchange. This illustrates the use of Kent cigarettes as fiat money. B) Commodity money has no value apart from its use as money. C) In Romania under Communist Party rule in the 1980s, Kent cigarettes served as a medium of exchange. This illustrates the use of Kent cigarettes as commodity money. D) Fiat money must be backed by gold; otherwise it is worthless.