It is less likely for oligopolists to maintain high prices in a repeated game than when the firms must choose one strategy to follow for the entire lifetime of the firm.
Answer the following statement true (T) or false (F)
False
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The substitution effect makes workers want to work less when the wage increases.
Answer the following statement true (T) or false (F)
A way governments have of financing their deficits without having to pay interest is to
A) issue currency. B) sell bonds to financial intermediaries. C) borrow directly from financial intermediaries. D) sell bonds in the direct finance market.
Which of the following is an appropriate fiscal policy response to high inflation?
a. increase interest rates b. increase government purchases c. decrease taxes d. none of the above
If the MPC is .80, then a change in disposable income of $60 billion will lead to an initial change in consumption of
a. $30 billion. b. $42 billion. c. $48 billion. d. $60 billion. e. $70 billion.