Which of the following is a characteristic of an oligopolistic industry?
a. Each firm faces many competitors who sell identical products.
b. Many firms compete to sell similar, but differentiated, products.
c. Firms face no competitors
d. A few large firms have all or most of the sales in an industry.
d
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A recent estimate of the fiscal burden on state and local government for low-skilled immigrant households is nearly:
A. $10 billion annually B. $30 billion annually C. $50 billion annually D. $100 billion annually
In which industry is monopolistic competition most likely to be found?
A. mining B. agriculture C. retail trade D. utilities
U.S. net exports fall due to recessions in foreign countries. A. According to the aggregate demand and supply model, what happens to the price level and output in the short run? B. According to the short-run Phillips curve what happens to inflation and unemployment in the short run? C. If the Fed wanted to reverse the effects of this shock on output, what should it do?
The Eurocurrency market is limited to exchanges that include the euro.
a. true b. false