The equilibrium quantity in markets characterized by oligopoly is

Samantha goes to the grocery store to make her monthly purchase of ginger ale.  As she enters the soft drink section, she notices that the price of ginger ale has increased 15 percent, so she decides to buy some peppermint tea instead.  To which problem in the construction of the CPI is this situation most relevant?

Suppose a bank has $200,000 in deposits and $190,000 in loans. It has loaned out all it can. It has a reserve ratio of

The information below was reported by the World Bank.  On the basis of this information, which list below contains the correct ordering of GDP per person from highest to lowest?

Country                 Nominal GDP in 2023             Population in 2023

A U.S. publisher purchases new computers that were manufactured in the U.S.  This purchase by itself makes

Once a cartel is formed, the market is in effect served by

Firm A is a perfectly competitive firm. Firm B is a monopolistically competitive firm. Both firms are currently maximizing their respective profits. Which of the following statements is correct?

Refer to Figure 1.  If the government imposes a minimum wage of $8, then employment will decrease to

Bob is looking for work after school, but everywhere he fills out an application, the managers say they always have a lot more applications than open positions.  Tom has a law degree. Several firms have made him offers, but he thinks he might be able to find a firm where his talents could be put to better use.

Suppose an economy’s production consists only of corn and soybeans.  In 2025, 20 bushels of corn are sold at $4 per bushel and 10 bushels of soybeans are sold at $2 per bushel.  In 2024, the price of corn was $2 per bushel and the price of soybeans was $1 per bushel.  Using 2024 as the base year, it follows that, for 2025,