To be classified as a low-income developing country, annual per capita income in 2010 needed to be:
A. $1,005 or less.
B. $580 or less.
C. $3,723 or less.
D. $925 or less.
A. $1,005 or less.
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Which of the following statements about perfect competition is true?
A. In the long run, the entry and exit of firms will generate normal profits for firms. B. In the short run, firms can only generate economic profits. C. In the long run, the entry and exit of firms will generate economic profits for firms. D. In the long run, the entry and exit of firms will generate losses for firms.
Kate's Great Crete (KGC) is a local monopolist of ready-mix concrete. Its annual demand function is Q = 20,000 - 400P, where P is the price, in dollars, of a cubic yard of concrete and Q is the number of cubic yards sold per year. What is the difference between price and marginal revenue when KGC sells 5,000 cubic years of concrete per year?
A. $12.50 B. $25.00 C. $37.50 D. $50.00
According to Shepherd, which of the following represent a primary cause of the rising competitive trend in U.S. industries between 1958 and 2000?
a. Collusion b. Regulation c. Antitrust policy d. Mergers
The region of the country that is least hospitable to union organizing is the ___________.
Fill in the blank(s) with the appropriate word(s).