Which of the following is a characteristic of a monopoly market?
A. one single seller
B. easy entry
C. The firm is a price taker.
D. many suppliers of similar products
Answer: A
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
If the price of papayas is 12 baht in Thailand and the exchange rate is 30 baht per dollar, then what is the dollar price of papayas?
A) $0.40 B) $2.50 C) $2.90 D) $26.00
A primary difference between rebates and coupons?
A) Coupons allow individuals to sort themselves into the high-elasticity group after the sale. B) Neither coupons or rebates are redeemed in high numbers. C) Rebates allow individuals to sort themselves into the high-elasticity group after the sale. D) Coupons are legal and rebates are illegal.
Which of the following people would be considered unemployed assuming that they are actively seeking employment?
A) those who were fired from their job B) those who resigned from their job C) new entrants into the job market D) All of the above are correct.