The country that has recently been suffering from deflation is
A. the U.S.
B. Japan.
C. China.
D. Canada.
B. Japan.
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The total cost (TC) of producing computer software diskettes (Q) is given as: TC = 200 + 5Q. What is the average fixed cost?
A) 500 B) 5Q C) 5 D) 5 + (200/Q) E) none of the above
Which of the following is a direct tax?
a. excise tax b. tax on corporate profits c. property tax d. sales tax
One way in which monopolistic competition differs from oligopoly is that
a. there are no barriers to entry in oligopolies. b. in oligopoly markets there are only a few sellers. c. all firms in an oligopoly eventually earn zero economic profits. d. strategic interactions between firms are rare in oligopolies.
Which of the following features does a customs union have?
A. Free trade among those members with similar economic policies B. Free movement of factors of production C. Harmonization of all economic policies D. Common set of external tariffs