In a goods market, sellers have higher bargaining power if:
A) the good being traded has close substitutes.
B) there are several firms in the industry.
C) there are just a few firms in the industry.
D) there are just a few buyers in the market.
C
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The ________ the expected profit from holding a foreign currency, the greater is the ________ in the foreign exchange market
A) larger; quantity demanded of dollars B) smaller; quantity demanded of foreign currency C) larger; quantity supplied of dollars D) None of the above is correct because the expected profit has nothing to do with the supply and demand for dollars or foreign currency.
How has the distribution of money income changed over time?
What will be an ideal response?
"With autonomous changes in the policy interest rate, the Federal Reserve cannot determine the long run equilibrium level of the real interest rate or potential output and will only be able to determine inflation"
This statement is consistent with ________. A) the notion that shifts in the MP curve may lead to shifts in the AD and AS curves but the LRAS remains unchanged B) the notion of long-run independence between nominal and real variables C) the notion of monetary neutrality D) all of the above E) none of the above
If the population of Country A grows at 3% a year but technology growth is zero, then the neoclassical model predicts that in the steady state
a. the capital-to-labor ratio will increase at 3% a year. b. per capita output to grow at 3% a year. c. per capital output to grow at less than 3% a year. d. the capital-to-labor ratio to decrease at 3% a year. e. a and b.