Which of the following is an example of an investment, as described in Chapter 12 of your textbook?
A) The government builds a dam to have a source of hydroelectric power.
B) A student attends college.
C) A firm builds a new plant.
D) all of the above
D
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How do firms in monopolistic competition compete?
What will be an ideal response?
Consider a country that initially does not interfere with imports of a given good. If the government then imposes a tariff on that good, the supply curve
a. shifts downward. b. remains unchanged. c. slopes upward less steeply. d. shifts upward.
Which of the following groups had the highest median income in the U.S. in 2008?
A. Hispanic B. White (non-Hispanic) C. Asian D. Black
Price elasticity of demand depends on all of the following except:
A. the amount of time a consumer has to adjust to price changes. B. the sensitivity of firms' output to changes in the product's price. C. the consumer's income. D. the availability and closeness of substitutes.