Which of the following is NOT a regional trade agreement currently (2014) being considered?
a. the Trans-Pacific Partnership
b. the Trans-Atlantic Trade and Investment Partnership
c. the North American Free Trade Area
d. the Europe-Japan Free Trade Area
Ans: c. the North American Free Trade Area
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Traditionally, Wall Street investment banks had been organized as ________, but by 2000 they had converted to being ________
A) sole proprietorships; partnerships B) partnerships; sole proprietorships C) corporations; partnerships D) partnerships; publicly-traded companies
If a monopolist produces to a point at which marginal revenue is greater than marginal cost then
A) profits are being maximized. B) profits will always be negative. C) the incremental cost of producing the last unit exceeds the incremental revenue. D) the incremental cost of producing the last unit is less than the incremental revenue.
If the MPC = .75, the spending multiplier is:
a. 4. b. 5. c. 1.33. d. 1.20. e. .25.
Which of the following could explain why a firm that is not a monopoly becomes one?
a. patent b. increasing ease of access to resources c. mutual interdependence d. the number of substitute goods falls from many to few e. a perfectly horizontal firm demand curve