Assume Leo buys coffee beans in a competitive market. It follows that
a. Leo has a limited number of sellers from which to buy coffee beans.
b. Leo will negotiate with sellers whenever he buys coffee beans.
c. Leo can influence the price of coffee beans if he buys a large quantity of them.
d. None of the above is correct.
d
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When the Fed lowers the federal funds rate, which of the following economic variables responds most rapidly?
A) other short-term interest rates B) consumption expenditure C) the supply of loanable funds D) the long-term real interest rate E) the inflation rate
The classical labor supply function is shown as
a. Ns = g(P/W). b. Ns = g(W/P). c. Ns = t(W/Pe). d. Ns = t(Pe/W).
If Harry's Blueberries, a perfectly competitive firm, shuts down in the short run, Harry must pay
a. variable cost but not fixed cost b. no costs at all c. variable cost and fixed cost d. only variable cost e. only fixed cost
In 2014, China had accumulated $3.8 trillion worth of reserve assets. These $3.8 trillion entered into China's balance of payments in the:
a. The total amount did not enter into China's balance of payments. Only changes enter the balance of payments. b. Reserve Account. c. Trade balance. d. Balance on goods and services. e. Financial Account.