The three most widely followed stock indexes in the United States include all of the following except
A) The NASDAQ. B) the Fortune 500.
C) the Dow Jones Industrial Average. D) the S&P 500.
B
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Explicit costs are
A) costs that are measured in dollars. B) costs that do not involve an exchange of money. C) the same as opportunity costs. D) the same as implicit costs.
For a monopolistically competitive firm in long run equilibrium: a. marginal revenue equals marginal cost and price equals average cost
b. the economic profits it is earning will soon be competed away by entry. c. accounting profits are zero and price equals marginal cost. d. marginal revenue equals marginal cost and average total cost is minimized.
One solution to the "Tragedy of the Commons" is to turn the common resource into a private good
a. True b. False Indicate whether the statement is true or false
Suppose you make jewelry. If the price of gold falls, then we would expect you to
a. be willing and able to produce less jewelry than before at each possible price. b. be willing and able to produce more jewelry than before at each possible price. c. face a greater demand for your jewelry. d. face a weaker demand for your jewelry.