Under conditions of perfect competition, if losses occur in an industry, market forces may come into play to
a. reduce supply.
b. lower average revenue.
c. increase supply.
d. attract new firms.
a. reduce supply.
Economics
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US 30yr fixed mortgage rates are averaging less than 4% annual interest rates (for those with good credit)
a. true b. false
Economics
Economics is the study of
a. how to make money. b. choices in a world of scarcity. c. how to distribute unlimited production among limited wants. d. All of the above.
Economics
If an economy's exports are $600 billion and its imports are $750 billion, its net exports are
A) $1,550 billion B) $150 billion C) -$150 billion D) 1.07.
Economics
A move from S2 to S3 is a(n)
A. an increase in quantity supplied.
B. a decrease in quantity supplied.
C. an increase in supply.
D. a decrease in supply.
Economics