One criticism of the Bertrand pricing model is that
A) the model is implausible when there is product differentiation.
B) when there is an oligopoly with no product differentiation, the model's prediction is inconsistent with reality.
C) the model's predicted price is solely a function of demand conditions.
D) the model's predicted price is dependent on the number of firms.
B
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During the 2008 Presidential campaign, candidate Barack Obama proposed
A. re-imposing the 6.2% (old-age) Social Security tax on incomes over $250,000 per year. B. raising the "income cap" for Social Security taxes from $106,800 to $250,000. C. eliminating entirely the Social Security taxes paid by employers. D. reducing by one-half the Social Security tax rates on employers.
Those individuals 16 years of age and over who are working in a job or actively seeking employment are called:
A) the labor force. B) the employed. C) the unemployed. D) none of the above.
Which of the following does purchasing-power parity conclude should equal 1?
a. both the nominal and the real exchange rate. b. the nominal exchange rate but not the real exchange rate c. the real exchange rate but not the nominal exchange rate d. neither the nominal exchange rate nor the real exchange rate
The basic data source to track the number of unemployed comes from a calculation of applications for new unemployment benefits.
Answer the following statement true (T) or false (F)