Which of the following is the best example of an oligopoly?
A. area restaurants
B. the automobile industry
C. agricultural markets free of government support
D. local utilities
Answer: B
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The marginal rate of substitution is determined by the slope of an indifference curve
Indicate whether the statement is true or false
If Canada goes from a large budget deficit to a small budget deficit, it will
a. increase private saving and so shift the supply of loanable funds right. b. increase investment and so shift the demand for loanable funds right. c. increase public saving and so shift the supply of loanable funds right. d. reduce national saving and shift the supply left.
Studies have concluded that NAFTA caused ________ in economic welfare to Canada.
a. a gain b. a loss c. no change d. first a gain, then a loss
The currency crisis of 1992 caused France and a number of other countries to choose between
A) a single currency for the EU and keeping their own currency. B) doing the right thing for their domestic economy and defending the exchange rate. C) lowering interest rates and reducing unemployment. D) competitive devaluations and falling unemployment.