Judging from the table of the four types of goods, goods that are rival in consumption would include ______.
a. movie streaming and security system
b. automobiles and rainforest trees
c. highway signs and street lighting
d. street lighting and security system
b. automobiles and rainforest trees
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Any firm that operates in an imperfectly competitive market faces a downward-sloping demand curve for its product
Indicate whether the statement is true or false
The employment ratio is always ________ than labor force participation, because only the latter ________
A) larger; omits discouraged workers B) smaller; includes the unemployed C) smaller; omits people too young to work D) larger; includes people looking for work
If a competitive firm has to pay a lump sum tax, it will produce less
Indicate whether the statement is true or false
When the residents of a nation are free to trade with foreigners, domestic producers will be able to
a. export more goods for which they are a high-cost supplier. b. supply a larger quantity of goods they can produce at a relatively low cost. c. charge higher prices then would otherwise be the case. d. survive in the marketplace even if they do not produce efficiently.