The non-democratic character of the Board of Governors of the Federal Reserve System helps support ________
A) the political business cycle
B) the time-inconsistency problem
C) its independence
D) rational expectations of Federal Reserve behavior
C
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An insurance company offering both high-deductible and low-deductible plans is an example of:
A. signaling. B. statistical discrimination. C. building a reputation. D. screening.
If short-run average total costs are rising in the oil tanker industry, it implies that economies of scale exist in that industry
a. True b. False Indicate whether the statement is true or false
Refer to Table 10-1. What is the socially-optimal quantity of output in this market?
Mutual interdependence means that each firm in an oligopoly
A. depends on the other firms for its markets. B. considers the reactions of its rivals when it determines its pricing policy. C. faces a perfectly inelastic demand for its product. D. depends on the other firms for its inputs.