When the cutthroat oligopolist lowers their prices, their competitors will ___________.
Fill in the blank(s) with the appropriate word(s).
lower theirs
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If your real income in base year prices is $50,000, then if the CPI is 170, what is your nominal income?
A) $85,000.00 B) $29,411.76 C) $70,000.00 D) $50,000.00 E) $71,428.57
To separate the income and substitute effects, the imaginary budget line should be
A) tangent to the new indifference curve and parallel to the new budget line. B) tangent to the new indifference curve and parallel to the old budget line. C) tangent to the old indifference curve and parallel to the new budget line. D) tangent to the old indifference curve and parallel to the old budget line.
A major difference between a tariff and a quota is that a tariff:
a. will reduce imports, but a quota generally will not. b. can easily be rescinded, but a quota cannot. c. will reduce the ability of foreigners to obtain the purchasing power to buy a nation's export goods, but a quota will not affect the foreign demand for the nation's exports. d. typically generates tax revenue, while a quota does not.
Which of the following transactions is not a source of funds for Country A?
a. Exports from Country A. b. Increases in Country A's central bank reserve assets. c. Dividends Country A receives from foreign nations. d. Country A's borrowing from foreign banks. e. Aid Country A receives from the rest of the world.