Figure 10-7
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In Figure 10-7, through which point must a horizontal demand curve pass to yield a long-run equilibrium?
A. A
B. B
C. C
D. All of these are correct.
Answer: A
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Capital refers to
A. manufactured goods used to produce other goods or services. B. the work and time for which employees are paid. C. natural resources as well as "man"-made goods. D. the person who assembles the needed resources to start a business.
The above figure shows the U.S. market for flip-flops. With international trade, the equilibrium price in the United States is ________ and the United States ________ flip-flops
A) $12; imports B) $12; does not trade C) $12; exports D) $14; imports E) $14; does not trade
Financial securities that represent partial ownership of a corporation are known as
A) bonds. B) stocks. C) coupons. D) dividends.
Under a transferable emissions permit system with n possible polluters, the government enforces the total amount of emissions allowable at X units by
A) setting a different fee for each firm so that each firm chooses to emit X/n units. B) setting the same fee for each firm so that each is forced to emit X/n units. C) setting a different standard for each firm, with X/n being the average. D) setting the same standard for each firm at X/n. E) issuing X permits.