Oligopolies exist and do not attract new rivals because
A) of barriers to entry.
B) there can be no product differentiation.
C) of competition.
D) the firms keep profits and prices so low that no rivals are attracted.
A
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In the figure above, in the long run what happens if the Fed increases the quantity of money by 5 percent?
A) The value of money rises by 5 percent. B) The nominal interest rate rises by 5 percent. C) The price level rises by 5 percent and the LRMD shifts leftward. D) The value of money falls by 5 percent and there will be a movement down along the LRMD curve. E) The real interest rate falls and the LRMD curve shifts rightward.
A graph shows the average SAT scores for males and females in 2012. The kind of graph used to show these data would be a
A) scatter diagram. B) time-series graph. C) cross-section graph. D) time-stationary graph. E) trend figure.