An oligopolist's production decision affects:
A. its profits.
B. the profits of other firms in the market.
C. the prices charged by each firm.
D. All of these statements are true.
D. All of these statements are true.
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If the government restricts the selling of corn so that the quantity is less than the equilibrium quantity, then the policy I. creates a deadweight loss. II. decreases total surplus
A) Only I is correct. B) Only II is correct. C) Both I and II are correct. D) Neither I nor II is correct.
Which of the following would result in a trade surplus for the United States?
A) Exports of goods = $550 billion Imports of goods = $575 billion Exports of services = $275 billion Imports of services = $300 billion B) Exports of goods = $725 billion Imports of goods = $790 billion Exports of services = $350 billion Imports of services = $260 billion C) Exports of goods = $625 billion Imports of goods = $625 billion Exports of services = $300 billion Imports of services = $375 billion D) None of the above will result in a trade surplus.
In insurance markets, adverse selection often
A. brings down prices for insurance premiums. B. eliminates exchange possibilities that would be beneficial to both consumers and insurance companies alike. C. creates exchange possibilities that are beneficial to consumers and insurance companies. D. creates an abundance of lawsuits.
Public saving is the ______.
a. amount of income households have left after consumption and taxes, plus transfer payments b. amount of income the government has left over after paying for its spending c. theory that government borrowing drives up the interest rate and lowers consumption d. practice of using corporate profits for capital investment rather than dividend payouts