Price leadership works only if there is a single, dominant firm in the oligopoly
a. True
b. False
Indicate whether the statement is true or false
False
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The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Which of the following best represents Moore's law?
A. Microprocessor technology advances rapidly enough that microprocessors double their performance every 18-24 months. B. Technology advances rapidly enough to extend human life expectancies by one year every six years. C. Only about 1 in 10 technology firms financed by venture capital will succeed, 3 in 10 will break even, and 6 in 10 will fail. D. New technologies, such as personal computers, will have little impact on the economy because while they increase some workers' productivity, they cause other workers to lose their jobs.