A perfectly competitive firm cannot affect the market price by raising or reducing its supply of a product
a. True
b. False
Indicate whether the statement is true or false
True
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A floating exchange rate
a. is determined by the national governments involved b. remains extremely stable over long periods of time c. is determined by the actions of central banks d. is allowed to vary only within a narrow range e. adjusts in response to market forces
Which of the following are not counted when we compare a family's income to the poverty line?
a. In-kind transfers such as food stamps, Medicaid, and public housing. b. Cash welfare payments such as from social security. c. Cash payments when a worker becomes unemployed. d. Both a. and b. above are correct.
Which of the following is not an example of a model?
A. a small plastic airplane tested in a wind tunnel B. a highway map C. a photograph of the inside of a computer D. a poster of the human digestive system
A pilot for a private jet stops for refueling in Omaha, Nebraska. Topper Fuels offers him a case of French wine to refuel with them (a total retail value of $324 to the pilot). For refueling, inspections, and minor repairs, Topper charges $2,700, $400 more than the least expensive fuel company. What has happened to the company that owns the private jet?
What will be an ideal response?