Which statement is true?
A. Most oligopolies in the United States take the form of a cartel.
B. Covert collusion has probably never taken place among American oligopolists.
C. The cartel and the cut throat competitor are on opposite ends of the competitive spectrum.
D. None of these statements are true.
C. The cartel and the cut throat competitor are on opposite ends of the competitive spectrum.
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Refer to the scenario above. The total value in your account, at the end of a year, is equal to:
A) $520. B) $525. C) $550.50. D) $572.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States:
A. only the long-run aggregate supply curve would shift left. B. the long-run and short-run aggregate supply curves would both shift left. C. only the short-run aggregate supply curve would shift left. D. neither the short-run nor long-run aggregate supply curves would be affected.
We can say that the potential level of real GDP is fixed because the long-run aggregate supply curve is a vertical line
a. True b. False Indicate whether the statement is true or false
When the Federal Open Market Committee (FOMC) votes on policy, they do so
A) in the following order: the chair, the vice chair, the remaining FOMC members in alphabetical order. B) in order based on seniority at the Fed. C) in the following order: the chair, the vice chair, the remaining FOMC members by seniority at the Fed. D) in alphabetical order.