How would economists most often define a perfectly competitive market?
A) Many firms compete with one another, and the cost of entering the market is low.
B) Many firms compete with one another, and the cost of entering the market is high.
C) Firms do not compete with one another, and the cost of entering the market is low.
D) Firms do not compete with one another, and the cost of entering the market is high.
Answer: A
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What does a downward-sloping yield curve imply, according to the expectations theory of the term structure of interest rates?
A. Investors expect long-term interest rates to rise in the future. B. Investors expect future short-term interest rates to be lower than the current short-term interest rate. C. Investors expect future short-term interest rates to be the same as the current short-term interest rate. D. Investors expect future short-term interest rates to be higher than the current short-term interest rate.
According to the mainstream economics school of thought, employees should be paid according to their ___________________________.
Fill in the blank(s) with the appropriate word(s).
Which of the following is a reason for business people to replace face-to-face meetings with virtual ones (videoconferencing or Web conferencing)?
a. employees who work from home b. increasing travel costs c. terrorist threats d. all of the above (a-c)
The strategic and tactical choices that a firm makes lead to the firm's marketing mix which is referred to as the Four P's of Marketing. They are:
A) distinguishing between who buys the product and who consumes it. B) determining the channel through which the product or service is purchased. C) assessing the firm's plant capacities. D) determining the unique features of the target market.