Suppose that initially there is no public debt. Using the above table, the public debt over this four year period would have
A) increased by 215.
B) decreased by 100.
C) increased by 1,375.
D) decreased by 1,590.
Ques. 2Which of the following is NOT a common characteristic of oligopoly?
A) strategic dependence among firms in the industry
B) product differentiation
C) barriers to entry
D) marginal cost pricing.
Ques. 3Which of the following people would be considered unemployed assuming that they are actively seeking employment?
A) those who were fired from their job
B) those who resigned from their job
C) new entrants into the job market
D) All of the above are correct.
Ques. 4Which of the following is NOT an assumption used in deriving a production possibilities curve?
A) The labor force is growing at a constant rate.
B) Resources are fully employed.
C) Technology is constant.
D) The quantity of resources is constant.
Ques. 5An oligopoly is a market situation in which
A) there are many firms producing differentiated products.
B) there is a single firm producing several varieties of a product.
C) all the sellers act independently of the others.
D) there are very few sellers and they recognize their strategic dependence on one another.
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