Oligopoly differs from monopoly and perfect competition in that:
A. firms consider each other's actions when choosing price and quantity.
B. there are a few firms in the industry.
C. firms act strategically.
D. All of these
Answer: D
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One way to ensure all producers benefit from a price floor is to:
A. give a government guarantee to buy all surplus. B. ration a certain quantity per consumer. C. ration a certain quantity per producer . D. All of these are examples of ensuring all producers benefit using non-price methods.
The negotiation process between an employer and a union is described as collective bargaining
Indicate whether the statement is true or false
The study of health care provision in Delhi, India by Hammer and Das found:
A. doctors in public clinics were often more creative in diagnoses and care than doctors in private facilities. B. the implementation of national healthcare provisions had strong associations with quality of care. C. unless doctors were intrinsically motivated, no incentive exists for them to provide high quality care. D. doctors often worked at or beyond their knowledge frontier.
Soldiers in a World War II prisoner-of-war camp
A) used gold as a fiat money. B) used cowrie shells as money. C) used cigarettes as money. D) used U.S. dollars as a commodity money.