Which of the following may not characterize an oligopoly?
A. No market power.
B. A few firms.
C. Substantial control over price.
D. High barriers to entry.
Answer: A
Economics
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In the short run, a firm's marginal cost tends to rise as more is produced because of
a. diminishing marginal returns. b. the implicit costs of production. c. diseconomies of scale. d. rising input costs.
Economics
In order to meet the dual mandate, the Fed must:
A. maintain price stability. B. maintain full employment. C. keep unemployment levels near the NAIRU. D. All of these statements are true.
Economics
Flat taxes are more equitable than graduated tax schedules.
A. True B. False C. Uncertain
Economics
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.
Economics