Government ownership of industries is quite uncommon
a. True b. False
b
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Assume someone organizes all farms in the nation into a single-price monopoly. As a result, the amount of food produced
A) remains constant. B) decreases. C) increases. D) might increase or decrease depending on whether the demand for food is elastic or inelastic. E) might increase or decrease depending on whether the monopoly's marginal revenue curve lies below or above its demand curve.
The order of payment of corporate earnings is bondholders, preferred stockholders, convertible stockholders, and finally common stockholders
Indicate whether the statement is true or false
E&S Cooling Co installs air conditioning systems in new houses for homebuilders, and replacement systems for homeowners. Sales of which systems are included in this year's GDP?
a. Sales of replacement systems b. Sales of both systems c. Sales of systems in new houses d. Neither system would be included, because they are always intermediate goods.
The key difference between supply in the short run and supply in the long run is that we assume that firms:
A. will have a total supply that is constant in the long run. B. are able to enter and exit the market in the long run. C. are able to enter and exit the market in the short run. D. will not collude in the short run.