If unemployment and inflation always move in the same direction, then we can infer that business fluctuations are
a. from the demand side.
b. from the supply side.
c. from both the demand and supply side.
d. purely random events.
b
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If the four-firm concentration ratio for the market for pizza is 28 percent, then this industry is best characterized as
A) a monopoly. B) monopolistic competition. C) an oligopoly. D) perfect competition. E) oligopolistic competition.
What does it mean to say that we are running out of? "cheap oil"?
A. That there are declining reserves of? low-quality oil, but there is still plenty of? high-quality oil remaining. B. That we will soon deplete all the? world's oil? reserves, which will cause the price of oil to increase significantly. C. That world demand for oil is? declining, which will raise the price of oil in the future. D. That oil reserves are becoming more expensive to find and extract over time.