Product innovation is a key advantage of having an imperfectly competitive market structure
a. True
b. False
Indicate whether the statement is true or false
True
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The natural rate hypothesis asserts that
A) changes in the unemployment rate from changes in the inflation rate are temporary. B) changes in the unemployment rate are natural and long-lasting. C) when prices change, the inflation rate changes temporarily and then returns to its natural rate. D) changes in the natural unemployment rate are only temporary. E) price changes occur at a natural rate, near a 6 percent average inflation rate.
If economies of scale allow one cable TV firm to supply the entire market at the lowest possible cost, then this company is
A) a natural monopoly. B) not a monopoly. C) a monopoly, but not a natural monopoly. D) a legal monopoly.
Sam's Semiconductors produces computer chips, which it sells for $10 million to Carl's Computer Company (CCC). CCC's computers are sold for a total of $16 million. What is the value added of CCC?
A) $6 million B) $10 million C) $16 million D) $26 million
If Logan received a $2,500 bonus and his MPS is 0.20, his consumption rises by $________ and his saving rises by $________.
A. 2,500; 20 B. 500; 100 C. 2,000; 500 D. 2,500; 200