Which of the following types of firms are least likely to have their MC, AVC, and ATC curves affected by fluctuations in gasoline prices?
A. Firms like UPS that use a fleet of gasoline-powered vehicles.
B. Taxi cab and limousine companies.
C. Companies that operate bus tours to popular vacation destinations.
D. Firms like iTunes that distribute their products over the internet.
Answer: D
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Compared to people in other nations, people in the United States pay
A. much higher taxes. B. somewhat higher taxes, on average. C. about the same amount taxes. D. lower taxes.
In 1992, Britain and Italy __________ the European Monetary System and __________ against the other major European currencies
A) joined; fixed their currency B) joined; let their currency float C) left; fixed their currency D) left; let their currency float
When the money market is drawn with the value of money on the vertical axis, as the price level increases the quantity of money
a. demanded increases. b. demanded decreases. c. supplied increases. d. supplied decreases.
Creative destruction
What will be an ideal response?