In both price-taker and competitive price-searcher markets, the long-run market price of a good will be equal to the
a. average total cost of producing the good.
b. average variable cost of producing the good.
c. average fixed cost of producing the good plus a normal return on that cost.
d. marginal revenue derived from the sale of an additional unit of the good.
A
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Many of the world's poorest nations have Gini coefficients lower than in the U.S
Indicate whether the statement is true or false
U.S. automakers have an interest to make it more difficult for European competitors to locate assembly plants in Canada or Mexico and thereby ship finished automobiles to the United States duty-free. This is an example of
A) trade deflection. B) trade diversion. C) quotas. D) rules of origin.
The current account reflects
a. trade in tangible products b. trade in goods as well as services c. trade in services only d. the purchase of securities from foreigners e. the sale of securities to foreigners
In what decades did labor unions gain the most members?
A. The 1910s and 1920s B. The 1930s and 1940s C. The 1950s and 1960s D. The 1970s and 1980s