In an oligopoly, the outcome is uncertain because price and output decisions depend on the response of rivals
a. True
b. False
Indicate whether the statement is true or false
True
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A new cattle feed has been found to increase the amount of milk each cow produces. Which of these is a likely impact in the market for milk, if this cattle feed is used by most of the dairies?
a. A rightward shift of the supply curve for milk b. An increase in the demand for milk c. A decrease in the quantity demanded of milk d. A leftward shift of the supply curve for milk e. An increase in the price of milk
According to John Maynard Keynes,
a. the demand for money in a country is determined entirely by that nation's central bank. b. the supply of money in a country is determined by the overall wealth of the citizens of that country. c. the interest rate adjusts to balance the supply of, and demand for, money. d. the interest rate adjusts to balance the supply of, and demand for, goods and services.
When financial institutions borrow from the Federal Reserve, this is called
A. open market operations. B. borrowing on margin. C. using the discount window. D. fiscal policy.
If government spending that gives rise to a budget deficit is for public investment projects such as highways, this spending can increase the economy's future production capacity.
Answer the following statement true (T) or false (F)