In an unbalanced oligopoly, the sales of the leading firms
a. are unevenly distributed
b. are larger than the sales of all other firms
c. are larger than their market shares
d. are smaller than in a balanced oligopoly
e. grow faster than in a balanced oligopoly
A
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Leading, coincident, and lagging indicators are based on the concept that:
A) expectations of future inflation is the driving force of the economy. B) expectations of future profits are the driving force of the economy. C) expectations of future unemployment is the driving force of the economy. D) none of the above.
Firms tend to raise the price of their goods after acquiring a firm that sells a substitute good because
a. They lose market power b. There is an increase in the overall demand for their products c. The bundle has a more elastic demand than individual goods d. The bundle has a more inelastic demand than individual goods
The cost of maintaining unemployment below its natural rate with expansionary government policy is: a. increasing inflation
b. decreasing inflation. c. always a larger federal deficit. d. always a smaller federal deficit.
Consider an economy with only two goods: bread and wine. In 1982, the typical family bought 4 loaves of bread at 50¢ per loaf and 2 bottles of wine for $9 per bottle. In Year X, bread cost 75¢ per loaf and wine cost $10 per bottle. The CPI for Year X (using a 1982 base year) is:
A. 100. B. 115. C. 126. D. 130.