Which of the following is a short-run adjustment?
a. Toyota builds an automobile plant in Kentucky.
b. Faced with increasing enrollment, a private college builds a new School of Business building.
c. Because of staggering losses, three insurance companies exit the industry.
d. People's Bank hires two new tellers to meet increased demand for customer services.
e. Shaveco enters the razor blade market with a new product, produced in the United States.
D
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Refer to the figure above. What is the price at which the monopolist should sell its output?
A) $3 B) $4 C) $6 D) $9
The reason that most of the coffee that is consumed in the United States comes from Colombia is that
A) Colombia has an absolute advantage in producing coffee relative to the United States. B) Colombia has a comparative advantage in producing coffee relative to the United States. C) coffee cannot be grown in the United States. D) government trade disincentives regarding Colombian coffee make such trade possible.
The amount of interest owed on a loan of $2,000 after a year at an interest rate of 10 percent is:
A. $2,100. B. $2,200. C. $200. D. $100.
The sum of all income payments made to productive resources is national income
Indicate whether the statement is true or false