Suppose the market for personal computers in Country A is monopolistically competitive. Country A exports as well as imports personal computers from the rest of the world. After full adjustment to the opening of trade, a firm in this industry probably will
A. enjoy a greater market share.
B. receive a higher price for its product.
C. go out of business.
D. receive a lower price for its product.
Answer: D
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An increase in the public debt would most likely indicate that
A) national saving has increased. B) the budget deficit has increased. C) the budget deficit has decreased. D) the trade deficit has decreased.
Which of the following is an example of a nonrenewable resource?
a. corn b. oil c. livestock d. All of the above are correct.
A proprietorship is a business
A) with annual sales below $100,000. B) in which the stock of the company is closely held by members of one family. C) which produces a service rather than goods. D) owned by one individual who is responsible legally for the debts of the firm.
An increase in the growth rate of population in a steady-state economy would cause
A. a pivot up and to the left in the investment line. B. a pivot down and to the right in the investment line. C. a parallel shift downward in the investment line. D. a parallel shift upward in the investment line.