Factors that affect the ability of oligopolistic firms to successfully engage in cooperation include ____
a. number and size distribution of sellers
b. size and frequency of orders
c. product heterogeneity
d. a and b only
e. a, b, and c
e
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An increase in expected future disposable income ________ consumption expenditure and ________
A) increases; shifts the consumption function downward B) increases; shifts the consumption function upward C) decreases; shifts the consumption function upward D) increases; results in a movement upward along the consumption function E) decreases; shifts the consumption function downward
A worker's labor supply depends on, among other things, his ability, his preference for the task, and the opportunity cost of his time
a. True b. False
The present value of future payments depends on:
a. whether the payment is interest or dividends. b. the marginal propensity to save. c. the interest rate. d. sunk costs.
A new U.S. import quota on imported steel would be likely to:
A. raise the cost of production to steel-using American firms. B. generate tax revenue to the government. C. decrease U.S. production of steel. D. increase the production of steel-using American firms.