A duopoly is

a. a cartel in which all members try to cheat on the cartel.
b. an industry with only two sellers.
c. an industry with only two buyers.
d. a cartel with only two members.

b

Economics

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According to the short-run Phillips curve, which of the following would result in low rates of unemployment?

A) a higher inflation rate B) weak increases in aggregate supply C) a lower inflation rate D) weak increases in aggregate demand

Economics

If the Fed purchases U.S. government securities in the open market, all of the following would occur EXCEPT

A) an expansion of the money supply. B) an increase in investment. C) a fall in bond prices. D) an increase in real Gross Domestic Product (GDP).

Economics