Oligopoly is a market structure that is characterized by a:
What will be an ideal response?
small number of interdependent firms producing identical or differentiated products.
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A factory in Techland could not sell 20% of its output during a certain year due to a decrease in demand for its product. Which of the following would have happened if it produced 20% less?
A) Techland's GDP would have been higher. B) Techland's GDP would have been lower. C) Techland's trade deficit would have been less. D) Techland's GDP would have remained the same.
The driving force behind the increase in FDI within developed economies is
A) cross-border mergers and acquisitions. B) the international financial architecture. C) the stabilization of international currencies. D) the accumulation of government debt.
In 1993, the debate heated up in the United States about the North American Free Trade Agreement (NAFTA), which proposed to reduce barriers to trade (such as taxes on or limits to imports) among Canada, the United States, and Mexico
Some people opposed strongly the agreement, arguing that an influx of foreign goods under NAFTA would disrupt the U.S. economy, harm domestic industries, and throw American workers out of work. How might a classical economist respond to these concerns? Would you expect a Keynesian economist to be more or less sympathetic to these concerns than the classical economist? Why?
Which of the following is an automatic stabilizer?
a. Unemployment insurance b. Government spending c. Net taxes d. The interest rate e. The minimum wage set by the government