The airline industry is an example of an oligopoly.
Answer the following statement true (T) or false (F)
True
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If a country has a large deficit in its current account
A) it has a large surplus in its financial account. B) it exports more than it imports. C) it is a net creditor to the rest of the world. D) None of the above are necessarily true.
Assume Qs represents the quantity supplied at a given price and Qd represents the quantity demanded at the same given price. Which of the following market conditions produce a downward movement of the price?
a. Qs = 1,000, Qd = 750 b. Qs = 750, Qd = 750. c. Qs = 750, Qd = 1,000 d. Qs = 1,000, Qd = 1,000.
Suppose that an economy produces civilian goods and military goods. If technological breakthroughs increase its ability to produce military goods, then
a. fewer military goods will be produced b. more civilian goods will be produced c. the opportunity cost of producing military goods will rise d. there will be productive inefficiency in the economy e. the production possibilities frontier will pivot outward around the axis for military goods
The country that did NOT opt out of the currency union is:
A) United Kingdom. B) Sweden. C) Denmark. D) Italy.