Intraindustry trade relies on
A) economies of scale.
B) the product cycle.
C) differences in factor endowments.
D) government industrial policies.
E) monopoly pricing.
A
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The maximum profit for a single-price monopoly is found when the firm produces the level of output so that
A) marginal revenue equals marginal cost. B) price equals marginal cost. C) it can charge the highest possible price. D) marginal revenue exceeds marginal cost by as much as possible. E) total revenue equals total cost.
The Fed's first forward guidance in 2009 was framed in terms of keeping interest rates low
A) for an extended period. B) at least until a particular date in the future. C) based on outcomes for the unemployment rate and inflation rate. D) until the next Presidential election.
Growth in the Solow residual was slowest in the
A) 1950s. B) 1960s. C) 1970s. D) 1980s.
Opportunity cost:
a. applies only to consumption decisions. b. applies only to production decisions. c. is the same as monetary costs. d. exists because of scarcity. e. is irrelevant for wealthy economies.