Which statement about oligopolies is true?
A. Most oligopolies in the U.S. engage in outright collusion.
B. Most oligopolies operate at the minimum point of their ATC curves.
C. Most of our GDP is produced by oligopolies.
D. Collusion is illegal in the U.S. and does not exist.
C. Most of our GDP is produced by oligopolies.
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How do the Fed's actions influence the inflation rate and how long does it take for inflation to respond to the Fed's policy changes?
What will be an ideal response?
Within the context of the housing market, what does MBS stand for?
a. Multi-Banking System b. Mortgage Backed Security c. Mortgage Bubble System d. Mixed Bracket Securities
Someone notices that sunspot activity is high just prior to recessions and concludes that sunspots cause recessions. This person has
a. confused association and causation. b. misunderstood the ceteris paribus assumption. c. used normative economics to answer a positive question. d. built an untestable model.
The balance of payments equals:
(a) The difference between household spending and income. (b) The difference between government spending and income. (c) A measure of the economic transactions between Irish residents and the rest of the world. (d) The difference between inflation and unemployment.