Author Question: If a firm is an oligopolist, which is NOT true? A) It must pay attention to other firms' prices. ... (Read 80 times)

rachel9 · **on:** Jun 29, 2018

If a firm is an oligopolist, which is NOT true?

A) It must pay attention to other firms' prices.
B) It is one of a relatively small number of firms dominating its industry.
C) It can sell all the units it wants at the going market price.
D) It is engaged in a strategic game.

Question 2

In the classical model, how do shifts in aggregate demand affect real GDP?

A) Real GDP will remain unchanged.
B) Increases in aggregate demand increase real GDP.
C) Increases in aggregate demand decrease real GDP.
D) Decreases in aggregate demand increase real GDP.