The demand curve for a perfectly competitive firm is horizontal because
A. the firm profits from setting its price higher than the market price.
B. its product is easy for consumers to differentiate from those of other firms.
C. consumers are willing to pay any price to obtain its product.
D. its production decisions cannot influence the market price.
Answer: D
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Global climate change will not
A. affect the migration patterns of animals. B. affect the amount of expected water in lakes, rivers, and streams. C. make it harder to grow crops. D. harm those living in coastal areas.
If the Consumer Price Index decreases, who will be harmed?
A. Savers B. Creditors C. Debtors D. Savers and creditors
Since 2000, developing countries received large net capital inflows in the form of
A. official loans from foreign governments and the International Monetary Fund (IMF). B. debt service. C. foreign direct investments. D. short-term lending.
The change in total revenues resulting from a change in output of one unit is
A. economic revenue. B. diminishing revenue. C. marginal revenue. D. average revenue.