Oligopolistic firms are the only ones that do not consider their rivals' actions when making decisions about output and price
a. True
b. False
B
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Refer to Table 4-7. Suppose that the quantity of labor demanded decreases by 80,000 at each wage level. What are the new free market equilibrium hourly wage and the new equilibrium quantity of labor?
A) W = $8.50; Q = 550,000 B) W = $9.50; Q = 590,000 C) W = $12.50; Q = 630,000 D) W = $9.50; Q = 570,000
In general, the fed funds rate
A) moves in the direction suggested by the Taylor rule. B) moves in the opposite direction as suggested by the Taylor rule. C) is uncorrelated with the Taylor rule prediction. D) None of the above.
Which of the following have hurt those at the low end of the income distribution and helped those at the high end?
a. economic forces b. technological change c. immigration d. all of the above
All of the following will cause a shift in the supply of wireless earbuds EXCEPT
A. an increase in the cost of producing wireless earbuds. B. a per-unit government subsidy on the production of wireless earbuds. C. a decrease in the number of wireless earbuds manufacturers. D. a decrease in the prices of wireless earbuds.