Made in the USA or Made in China has less meaning for products that
A) are a commodity such as iron ore.
B) are an agricultural product such as wheat.
C) are technological and involve assembling many different types of sometimes sophisticated components.
D) are produced and consumed domestically.
C
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The demand curve for a monopolist’s product is also the monopolist’s
a. total revenue curve. b. marginal revenue curve. c. average revenue curve. d. total profit curve.
The steeper the central bank reaction function, the ________ the central bank increases the interest rate in response to the current inflation rate being above the target inflation rate and the ________ the central bank decreases the interest rate in
response to the actual inflation rate being below the target inflation rate. A) more; more B) more; less C) less; more D) less, less
On the Solow Diagram, an increase in population growth is shown by ________
A) an upward shift of the depreciation plus capital dilution line B) an upward shift of the investment function C) an upward shift of the per-worker production function D) a downward shift of the investment function
Which of the following statements are true? (Check all that apply.)
A. Equilibrium is attained when prices are allowed to respond to market pressure. B. A binding price ceiling will always cause the quantity demanded to exceed the quantity suppled. C. A government price control can be used to bring markets into equilibrium. D. A government price control will always cause the quantity demanded to exceed the quantity supplied.