BHP Billiton is a Canadian company that owns mines in Canada that
A) produce nickel. After World War II, BHP Billiton began to compete with another Canadian firm, the International Nickel Company. This competition eventually ended International Nickel's monopoly in this market.
B) produce coal. Until World War II, BHP Billiton had a monopoly on coal in Canada.
C) produce bauxite, the mineral needed to produce aluminum. BHP Billiton began to mine bauxite after World War II. This competition eventually ended the Aluminum Company of America (ALCOA)'s monopoly in this market.
D) produce diamonds.
D
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A prolonged recession in Europe should decrease the
A. supply of U.S. dollars. B. demand for U.S. dollars. C. supply of U.S. goods and services. D. demand by Americans for euros.
Assume that the personal computer industry is perfectly competitive. The fact that the price of personal computers over the last decade has fallen despite increases in demand signifies that the industry is a decreasing-cost industry
Indicate whether the statement is true or false
A financial bubble starts to inflate when:
A. investors become irrationally optimistic that an asset's price will continue to rise. B. investors become irrationally pessimistic that an asset needs to be sold immediately. C. a good experiences an unexplained rise in demand increasing its price. D. inflation begins to accelerate, and monetary and fiscal policy are ineffective at slowing its growth.
When existing firms lose customers and profits due to entry of a new competitor, a
a. predatory-pricing externality occurs. b. consumption externality occurs. c. business-stealing externality occurs. d. product-variety externality occurs.