If it is not profitable for more than one firm to be in an industry, we have an example of
A) monopoly due to ownership of key resources.
B) monopoly due to governmental entry restrictions.
C) monopoly due to economies of scale.
D) pure competition.
C
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Suppose the majority of the shares of Ford stock were sold to a Japanese firm. Assuming all else remains constant, this will
A) decrease net portfolio investment in the United States. B) increase foreign direct investment in the United States. C) increase the balance of the U.S. current account. D) create a capital outflow in the United States. E) increase the balance of the U.S. financial account.
The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5. If this economy is open to trade, and the world price of a car is $6,000, and the government imposes a quota allowing 3,000 cars to be imported, then domestic price of the car will be ________.
A. $6,000 B. $8,000 C. $10,000 D. $5,000
Which situation would most likely cause a nation's production possibilities curve to shift inward?
A. An increase in foreign trade B. The destruction from bombing and warfare in a losing military conflict C. An increase in the number of skilled immigrant workers D. The construction of more capital goods
Which of the following statement(s) is (are) false?
A) The slope of any indifference curve is the MRS. B) The slope of any budget line is negative and related to the ratio of the prices of the goods. C) The slope of any linear demand curve is the own-price elasticity. D) None of the above (that is, all statements are true).