The welfare loss associated with the outcome in a competitive oligopoly is:
A. smaller than that of a monopoly.
B. the same as that of colluding oligopolists.
C. bigger than that of a monopoly.
D. the same as that of a monopoly.
Answer: A
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The question of how much labor a firm will hire comes down to:
A. whether added workers are going to generate more revenue than what it costs to hire them. B. if the added workers are going to add revenues to the firm. C. whether the value of the marginal product is greater than, less than, or equal to the average total cost. D. the healthcare costs they incur by hiring them.
Use the list of items below to answer the question that follows.1.Money market mutual funds held by individuals 2.Savings deposits, including money market deposit accounts 3.Currency held by banks 4.Currency held by the public 5.Shares of corporate stock 6.Small time deposits 7.Checkable deposits 8.Large time deposits Refer to the above table. Which items are included in the M2 money supply but not the M1 money supply?
A. 2, 6 and 7 B. 3 and 5 C. 1, 2, and 6 D. 2, 5, 6, and 7
You earned $30,000 in 2009, and your salary rose to $80,000 in 2018. If the CPI rose from 82 to 202 between 2009 and 2018, which of the following is true?
A) There was deflation between 2009 and 2018. B) The purchasing power of your salary fell between 2009 and 2018. C) The purchasing power of your salary remained constant between 2009 and 2018. D) The purchasing power of your salary increased between 2009 and 2018.
When the market is in long-run equilibrium in a perfectly competitive market, this implies that in the long run means
A. no firm in the industry has an incentive to exit. B. no firm outside the industry has an incentive to enter. C. no firm in the industry has an incentive to increase or decrease its output. D. all of these conditions are met in the long run equilibrium.