“Never put all your eggs in one basket.” This saying refers to the concept of
A. averaging.
B. market timing.
C. diversification.
D. leveraging.
Answer: C
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In the Monetarist model, the long-run holds when
a. the money supply is constant. b. real wages are constant. c. output is constant. d. the expected price level equals the actual price level. e. none of the above.
Which of the following statements about the perfect competitor is INCORRECT?
A) The perfectly competitive firm is always a price taker. B) The perfect competitor sells a homogeneous commodity. C) If an individual firm raises price, it will lose business. D) The products made by a perfectly competitive firm have no close substitutes.
A price ceiling set below the equilibrium price creates a shortage
a. True b. False Indicate whether the statement is true or false
The perfectly competitive firm faces
A) a downward sloping demand curve. B) a horizontal supply function. C) perfectly elastic demand. D) constant marginal costs.