Oligopolistic industries are characterized by:
A. a few dominant firms and substantial entry barriers.
B. a few dominant firms and no barriers to entry.
C. a large number of firms and low entry barriers.
D. a few dominant firms and low entry barriers.
Answer: A
Economics
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The Boskin Commission found that the CPI ______ the true inflation rate.
A. understates B. is independent of C. precisely measures D. overstates
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If the MPC = 3/4, an increase in government purchases of $40 billion will ultimately lead to:
a. a $160 billion increase in aggregate demand. b. a $40 billion increase in aggregate demand. c. a $30 billion increase in aggregate demand. d. a $30 billion decrease in aggregate demand.
Economics