Which of the following statements is NOT a condition for a Stackelberg oligopoly?
A. A single firm (the leader) selects an output before all other firms choose their outputs.
B. The firms produce either differentiated or homogeneous products.
C. The market is contestable.
D. Barriers to entry exist.
Answer: C
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When real GDP increases, the demand for money
A) increases. B) decreases. C) stays the same. D) we cannot make a prediction without additional information.
The conditions for unaligned retailer and manufacturer incentives include
a. customers are familiar with the product before they shop for it b. retailers have no opportunity to educate consumers c. manufacturers are more efficient at education consumers d. demand for the product is increased with some consumer education
The Full Employment and Balanced Growth Act of 1978 set the target unemployment rate for the United States economy at 4 percent
a. True b. False
If nominal wages increase at the same rate as inflation, then the aggregate supply curve will be a horizontal line
a. True b. False Indicate whether the statement is true or false