Price wars are ________ likely to occur when the industry is ________
A) more; a monopoly.
B) more; an oligopoly.
C) more; perfect competition.
D) equally; monopoly, oligopoly, and perfect competition.
B
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Real income will rise from one year to the next if nominal income
A. rises and the price level rises faster. B. falls and the price level falls faster. C. falls faster than the price level. D. falls and the price level rises.
Bank ________ is/are listed on the liability side of the bank's balance sheet
A) reserves B) capital C) securities D) cash items
Economists recognize what is sometimes referred to as "psychic income" such as the value some people attach to being their own boss
As such, failure to factor in psychic income when calculating economic profit could result in an understatement of the actual economic profit received from a particular enterprise. Indicate whether the statement is true or false
When the value of the British pound changes from $1.50 to $1.25, then the pound has ________ and the U.S. dollar has ________
A) appreciated; appreciated B) depreciated; appreciated C) appreciated; depreciated D) depreciated; depreciated