Because in oligopoly the actions of one firm have a perceptible effect on the other firms, oligopoly firms act strategically.
Answer the following statement true (T) or false (F)
True
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Wage differentials exist because not all workers and all jobs are alike
a. True b. False Indicate whether the statement is true or false
Suppose Country X is relatively labor-abundant and relatively land-scarce. Country Y is relatively labor-scarce and relatively land-abundant. The production of corn is relatively land-intensive while the production of shoes is relatively labor-intensive. Explain the short- and long-run effects of opening to free trade between these countries on the incomes of: workers employed in the production of corn in each country; workers employed in the production of shoes in each country; land used in the production of corn in each country; and land used in the production of shoes in each country.
What will be an ideal response?
A French tourist spent $1,200 in the U.S this year. This transaction will lead to a(n) ________
A) decrease in the GDP of U.S. B) increase in the GDP of France C) decrease in the GDP of France D) increase in the GDP of U.S.
When a pharmaceutical company advertises that its allergy medication is clinically proven to alleviate hay fever symptoms, the pharmaceutical company is engaging in
A) informational advertising. B) trademark protection. C) persuasive advertising. D) direct marketing.