Oligopolies with kinked demand curves change their prices quickly and frequently
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose the probability of a near-new car being good is 0.4 while its probability of being a lemon is 0.6 . If risk-neutral consumers are willing to pay $14,000 if the car is in good condition and $8,000 if it is a lemon, a risk averse buyer who knows those probabilities would be willing to pay $10,400 for the car
Indicate whether the statement is true or false
______ efficiency means production will be allotted to reflect consumer preferences.
a. Allocative b. Productive c. Modified d. Marginal
The political problems associated with fixing the CPI are that
A. benefits to the poor would rise. B. Social Security benefits would rise. C. Social Security taxes would rise. D. personal income taxes would rise.
How did the original focus of the IMF differ from that of the World Bank?
A) The IMF provided short-term loans and the World Bank provided long-term loans. B) The IMF assisted wealthy nations and the World Bank assisted developing nations. C) The IMF gave grants to developing countries and the World Bank made loans. D) The IMF dealt in North and South America only, and the World Bank dealt with the rest of the world.