Oligopoly is likely to occur whenever the number of firms is so small that any change in output or price by one firm appreciably impacts the sales of competing firms
a. True
b. False
Indicate whether the statement is true or false
True
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Canada is classified by the International Monetary Fund as
A) an advanced economy. B) a developing economy. C) a transition economy. D) an emerging market economy. E) a natural-resource based economy.
Contractionary monetary policy to prevent real GDP from rising above potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) higher; higher B) higher; lower C) lower; lower D) lower; higher
Refer to Table 2-13. Which of the following statements is true?
A) Horace has an absolute advantage in dog grooming and Tammi in cat bathing. B) Tammi has an absolute advantage in both tasks. C) Horace has an absolute advantage in cat bathing and Tammi in dog grooming. D) Horace has an absolute advantage in both tasks.
A forest is an example of a nonrenewable resource
a. True b. False Indicate whether the statement is true or false