If a Cournot duopolist announced that it will double its output,
A) it becomes the leader.
B) the other firm does not view the announcement as credible.
C) the other firm will shut down.
D) the other firm will double output also.
B
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On which of the following types of unemployment do macroeconomic tools have the greatest effect?
a. Cyclical unemployment. b. All the above. c. Structural unemployment. d. None of the above e. Seasonal unemployment.
The Fed's open market operations normally involve only the purchase of government securities, particularly those that are short-term. However, during the crisis, the Fed started new programs to purchase
A) mortgage-backed securities and long-term Treasuries. B) mortgage-backed securities and Treasury bills. C) commercial papers and short-term Treasuries. D) Treasury bills and Treasury notes.