A. Firms are assumed to act independently
B. Firms are assumed to cooperate with each other
C. Firms collude as part of cartel
D. Firms consider the actions of others before deciding what to do
A. increase the interest rate
B. increase the price level
C. decrease the price level
D. decrease the interest rate
A. Frictional unemployment
B. Seasonal unemployment
C. Cyclical unemployment
D. Structural unemployment
A. relatively higher U.S labor productivity was associated with relatively higher U.K export ratios
B. relatively high U.K labor productivity was associated with relatively higher U.K export ratios
C. Labor productivity ratios and export ratios were not associated with each other
D. None of the above
A. sugar
B. vegetable oil
C. tea
D. edible oil
A. market orientated economists
B. left-wing theorists
C. Keynesian
D. New-Keynesian
A. free market solutions are efficient
B. free market solutions maximize total surplus
C. all of these answers
D. free market solutions are equitable
E. free market solutions are efficient and free market solutions maximize total surplus