Which of the following is NOT a common characteristic of oligopoly?
A) strategic dependence among firms in the industry
B) product differentiation
C) barriers to entry
D) marginal cost pricing.
D
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A closed economy is one in which
A) investment spending is zero. B) government spending is zero. C) there are no imports or exports. D) demand equals supply in every market.
The most significant cost to a central bank of reducing unemployment is the costs
a. incurred by printing and distributing new money. b. of lower output. c. of higher real wages. d. of inflation.
Financial instruments used primarily to transfer risk would not include:
A. home mortgages. B. a bank loan. C. options. D. an insurance policy.
Marginal social benefit equals
A) marginal external benefit. B) marginal private benefit. C) marginal private benefit minus marginal external benefit. D) marginal private benefit plus marginal external benefit. E) marginal external benefit minus marginal private benefit.