Which of the Following Is Likely to Be the Permanent

question 25

Multiple Choice

Which of the following is likely to be the permanent result of the recent economic downturn in the United States?

• A)Almost all of the jobs lost will not return.
• B)About half of the jobs lost will not return.
• C)About a quarter of the jobs lost will not return.
• D)Almost all of the jobs lost will return.

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Definitions:

Oligopolistic Market

A market structure characterized by a small number of firms that have significant control over market prices and competition.

Increase Sales

An objective of businesses aimed at growing the number of products sold or services rendered.

Cartel Agreement

A formal, explicit agreement among competing firms to control prices, production, and market shares.

Cartelized Market

A market condition where a few suppliers act together to control prices or limit market competition.