The demand curve facing an oligopoly will be less elastic
A. the larger its share of the market and the more differentiated the product.
B. the smaller its share of the market and the more differentiated the product.
C. the larger its share of the market and the less differentiated the product.
D. the smaller its share of the market and the less differentiated the product.
A. the larger its share of the market and the more differentiated the product.
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Economist Robert Fogel has estimated that by the year 2040, individuals in the United States will be spending
A) more time in the workforce and more time in leisure activities than they do today. B) less time in the workforce and less time in leisure activities than they do today. C) more time in the workforce and less time in leisure activities than they do today. D) less time in the workforce and more time in leisure activities than they do today.
In the United States, an example of a common in-kind transfer would be:
A. public housing. B. earned income tax credit. C. Aid to Families with Dependent Children. D. All of these are in-kind transfers.
Which of the following is not a consequence of hyperinflation?
A) The price level grows in excess of hundreds of percentage points per year. B) Hyperinflation causes an economy to suffer slow growth. C) Money loses value so rapidly that individuals and firms stop holding it. D) Money's function as a medium of exchange is enhanced.
Each of the following industries was deregulated during the last 30 years except
A. the airlines. B. trucking. C. banking. D. radio and TV.