Price leadership is a form of explicit collusion where one firm in an oligopoly announces a price change and expects all other firms to follow suit
Indicate whether the statement is true or false
FALSE
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U.S. GDP excludes underground activities
Indicate whether the statement is true or false
A policymaker would prefer that the lag in the effect of a policy be
A) long and variable in magnitude or size. B) short and fixed in magnitude or size. C) long and fixed in magnitude or size. D) short and variable in magnitude or size.
Select the correct statement
a. Qualitative forecasts give the direction of change. b. Quantitative forecasts give the exact amount or exact percentage change. c. Diffusion forecasts use the proportion of the forecasts that are positive to forecast up or down. d. Surveys are a form of qualitative forecasting. e. all of the above are correct.
A state lottery commission offers a new millionaire game - a one in a million chance to win one million dollars. If the price of a lottery ticket is $1.50, who would buy any?
a. Only risk-neutral individuals. b. Only risk-preferring individuals. c. Both risk-neutral and risk-preferring individuals. d. Anyone, risk preferences would not matter.