The goal of a company in an oligopoly industry is to
A. Obtain the highest price possible.
B. Be the market leader in innovation.
C. Increase market share and profits.
D. Always follow rivals if they raise price.
Answer: C
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Refer to Table 10-2. Using the table above, what is the approximate growth rate of real GDP from 2014 to 2015?
A) 1% B) 2% C) 3% D) 4%
Refer to Scenario 17-1. Following the passage of comparable worth legislation, Unity College responds by placing salaries for all assistant professors at $80,000. Which of the following is the result of the legislation?
A) The demand for English professors decreases; the market for business professors is not affected. B) There will be a surplus in the market for English professors and the market for business professors will not be affected. C) The supply of English professors increases; the market for business professors is not affected. D) There will be a surplus in the market for English professors and a shortage in the market for business professors.
J.P. Morgan was instrumental in the formation of:
a. Ford Automobiles. b. U.S. Steel Corporation. c. Standard Oil. d. Swift Meats.
If there is a large increase in the price of oil and the Fed wishes to maintain stable output, which of the following should it do?
a. Do nothing, because the self-correcting mechanism will adjust the economy b. Sell bonds in the open market c. Wait, because output seldom changes when there is an increase in the price of oil d. Encourage firms to not adjust the wages they pay e. Buy bonds in the open market