In perfect competition, restrictions on entry into an market
A) apply to both capital and labor.
B) apply to labor but not to capital.
C) apply to capital but not to labor.
D) do not exist.
D
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Because many European nations have adopted the euro as their common currency, they are ________ able to conduct independent ________ policy.
A. no longer; fiscal B. increasingly; monetary C. increasingly; fiscal D. no longer; monetary
If producers have an expectation of higher future prices, the supply of the good that is currently available
A) will be all that is produced. B) will decrease. C) will not change. D) will increase.
The figure illustrates Anne's demand for books. At ________ a book, Anne's demand for books is inelastic
A) all prices between $15 and $30 B) all prices between $10 and $15 C) all prices between $10 and $20 D) all prices below $30
Last year, the Pottery Palace supplied 8,000 ceramic pots at $40 each. This year, the company supplied the same quantity of ceramic pots at $55 each. Based on this evidence, The Pottery Palace has experienced
A) an increase in the quantity supplied. B) a decrease in supply. C) a decrease in the quantity supplied. D) an increase in supply.