Industrial organization is the study of
a. how labor unions organize workers in industries.
b. which managers are the most successful.
c. how industries organize for political advantage.
d. how firms' decisions regarding prices and quantities depend on the market conditions they face.
d
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A car dealer advertises free satellite radio for one year with the purchase of a new car. This is an example of:
A. bait and switch. B. marginal sales. C. an incentive. D. voluntary exchange.
Using the concepts of community indifference curves and the production-possibility curve, explain how the international price of a good is determined in the Heckscher-Ohlin two-commodity model. What is the unit of measurement for the price of a good in this model?
What will be an ideal response?
The public debt is the amount of money that:
A. state and local governments owe to the federal government. B. the federal government owes to taxpayers. C. the federal government owes to holders of U.S. securities. D. Americans owe to foreigners.
Economists use M2 to measure the amount of money that is regularly used in transactions.
Answer the following statement true (T) or false (F)