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
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.
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.