If two goods are perfect complements, the shapes of the indifference curves are
A) bowed toward the origin.
B) bowed away from the origin.
C) straight lines.
D) right-angled lines.
D
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If a firm reacts to other firms' market decisions by anticipating how the other will then react, this is:
a. not profit-maximizing behavior b. a monopolistic competitive market c. a market with a low concentration ratio d. mutual interdependence e. collusion by definition
Which of the following concerns is consistent with the Fed's policy initiative outlined in the In the News article titled " U.S. Federal Reserve Cuts Interest Rates to Historic Low"?
A. Concern about the lower interest rates harming the economy. B. Concern about inflationary pressures on the economy. C. Concern about mounting unemployment. D. Concern about desired spending exceeding current output.