A recessionary gap refers to the gap between real GDP and potential GDP when the level of output is above the level of potential GDP

Factors tend to be specific to certain uses and products

A) in the short run. B) in countries lacking comparative advantage. C) in capital-intensive industries. D) in labor-intensive industries. E) in countries lacking fair labor laws.

Which of the following terms is not associated with a market having a firm whose behavior has been judged to be characteristic of the dominant firm model?

a. godfather b. price leadership c. kinked demand curve d. profit maximization e. oligopoly