In the short run, we assume that the number of firms in a perfectly competitive market:
A. varies if perfect information is present.
B. varies more than the long-run equilibrium.
C. is fixed.
D. is equal to the number of firms in the long-run.
C. is fixed.
You might also like to view...
If the required reserve ratio is a uniform 25 percent on all deposits, the money multiplier will be
Which of the following would increase GNP in the United States?
A) an increase in the production of Japanese-owned Toyota cars in the U.S. B) an increase in the production of Japanese-owned Toyota cars in Mexico C) an increase in the production of Mexican-owned Grupo Minsa corn in the U.S. D) an increase in the production of U.S.-owned General Motors cars made in Mexico
The difference between money and income is that whereas income is an individual's
A) flow of earnings over a period of time, money is an individual's stock of currency and currency substitutes. B) stock of all assets, money is an individual's stock of currency and currency substitutes. C) flow of earnings over a period of time, money is an individual's stock of all assets. D) stock of currency and currency substitutes, money is an individual's stock of all assets.
Exchange controls in Peru _________
a. reduce quotas b. are illegal c. reduce tariffs d. are designed to float the exchange rate e. will ease the pressure on Peru's foreign exchange reserves if its exchange rate is fixed