Because each oligopolist cares about its own profit rather than the collective profit of all the oligopolists together,
a. they are unable to maintain the same degree of monopoly power achieved by a monopolist.
b. each firm's profit always ends up being zero.
c. competitive pressures are absent from the market.
d. it will be easier to maintain collusive agreements.
A
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An increase in labor force participation will increase output and living standards at the cost of
a. higher taxes b. higher interest rates c. longer work weeks d. foregone leisure time e. higher exports
Bank A has checkable deposits of $510 million and total reserves of $55.2 million. The required reserve ratio is 9 percent. The bank has excess reserves of ______________ million.
A. $9.3 B. $50.2 C. $454.8 D. $45.9
A perpetuity is
a. a financial intermediary that has existed throughout recorded history. b. an instrument of equity finance. c. a stock that pays dividends forever. d. a bond that pays interest forever.
Real income:
A. Is income adjusted for unemployment. B. Is income without any adjustment. C. Reflects the purchasing power of money. D. Reflects the stability of the labor force.