An example of a perfectly competitive market would be the
a. cable TV market.
b. soybean market.
c. breakfast cereal market.
d. shampoo market.
b
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Since the passage of the International Banking Act of 1978, the competitive advantage enjoyed by foreign banks in the U.S. has been
A) reduced. B) mildly expanded. C) completely eliminated. D) greatly expanded.
The EPA formulated the Drinking Water Strategy (DWS)
a. under the Clinton administration b. to recognize the importance of addressing contaminants one at a time c. with four identified goals, including one to develop new drinking water technologies d. solely to revise regulations for private well water
If the price of Good X is $2, the price of Good Y is $10 and the consumer's budget is $100, which of the following combinations of Good X and Good Y would be on the budget line?
A. 50 units of Good X and 10 units of Good Y B. 10 units of Good X and 6 units of Good Y C. 25 units of Good X and 5 units of Good Y D. 30 units of Good X and 6 units of Good Y
Normal profit is:
A. the average profitability of an industry over the preceding 10 years. B. determined by subtracting explicit costs from total revenue. C. the return to the entrepreneur when economic profits are zero. D. determined by subtracting implicit costs from total revenue.