Which of the following is not an assumption of the perfect competition model?
What will be an ideal response?
The product demand curves that individuals face in perfectly competitive markets slope downward.
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Use the following graph for a competitive market to answer the question below.
Assume the government imposes a $3 tax on buyers, which results in a shift of the demand curve from D1 to D2. The government's tax revenue is
A. $900. B. $2,100. C. $2,400. D. $600.
Which of the following is considered to be a variable cost of operating an automobile?
a. insurance b. taxes c. car loan payment d. tires e. license and registration fees
A discount loan is a loan the Federal Reserve makes to a commercial bank
Indicate whether the statement is true or false
The trend in the United States toward the merger of unions is driven by the labor movement's desire to accomplish all of the following except
A. Avoid low-wage workers in service industries. B. Enhance their political power. C. Increase representation. D. Gain financial strength.