Although the U. S. airline industry has only a relatively small number of sellers, the market is nevertheless highly competitive. The reason is that:
A. the number of buyers is very large.
B. due to fierce competition, no firm has significant control over the quantity supplied.
C. most airline routes are served by relatively many sellers.
D. due to fierce competition, no firm has significant control over prices.
D. due to fierce competition, no firm has significant control over prices.
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A deposit outflow results in equal reductions in
A) loans and reserves. B) assets and liabilities. C) reserves and capital. D) assets and capital.
Which set of changes is definitely predicted to lower Real GDP in the short run?
A) The money supply rises and labor productivity rises. B) The U.S. dollar depreciates and wage rates fall. C) The U.S. dollar appreciates and labor productivity rises. D) Foreign real national income falls and wage rates rise. E) none of the above