Beginning in the mid-1970s, Congress deregulated several industries including airlines and trucking.
Answer the following statement true (T) or false (F)
True
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Assume that both the demand curve and the supply curve for DVD players shift to the left but the demand curve shifts more than the supply curve. As a result,
A) both the equilibrium price and quantity of DVD players will decrease. B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease. C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will decrease. D) the equilibrium price of DVD players will increase; the equilibrium quantity may increase or decrease.
We know how many dollars banks create using the:
A. money multiplier. B. federal funds. C. demand deposits. D. interest rate.
The Sarbanes-Oxley Act of 2002 attempts to reduce corporate fraud among top-level executives. Comment on the strengths and weaknesses of this act.
What will be an ideal response?
Answer the question on the basis of the following information: Suppose a firm hires both labor (L) and capital (C) under purely competitive conditions. The price of labor is P L and that of capital is P C . The marginal product of labor is MP L and that
of capital is MP C . The firm sells its product competitively at a price of P X . Refer to the given information. If MP C /P C > MP L /P L , the firm: A. may be maximizing profits, but it is not minimizing costs. B. may be minimizing costs, but it is not maximizing profits. C. is neither minimizing costs nor maximizing profits. D. is minimizing costs and maximizing profits.