If a firm is a price taker, the demand curve faced by the firm is:
A. horizontal.
B. vertical.
C. downward sloping.
D. upward sloping.
Answer: A
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Life insurance companies often give applicants a physical examination to prevent
A) the person from dying before obtaining the policy. B) signaling. C) adverse selection. D) profit maximization.
Real GDP per person can increase:
A. only if the share of the population employed decreases. B. if the share of population employed and/or average labor productivity increases. C. only if average labor productivity increases. D. only if the share of the population employed increases.
Which of the following statements is false?
A. Diversification can reduce risk but only by reducing the expected return. B. Diversification reduces idiosyncratic risk. C. Diversification can reduce risk. D. Diversification allocates savings across more than one asset.
A nation's real GDP was $250 billion in 2013 and $265 billion in 2014. Its population was 120 million in 2013 and 125 million in 2014. What is its real GDP per capita in 2014?
A. $2,120 per person B. $212 per person C. $21,200 per person D. $205 per person