Which of the following cannot be classified as a market structure?
a. Perfect Competition
b. Monopoly
c. All of the above
d. None of the above
c
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The derived demand for an input decreases when
A. the price of the input increases. B. the price of the output increases. C. the price of the input decreases. D. the price of the output decreases.
An economic system in which the government decides what, how, and for whom to produce, directs workers to jobs, and owns all the land and capital is
A) centrally planned socialism. B) market capitalism. C) mixed economy. D) supported by economists as the best system available.
A temporary resource price differential refers to a price difference
a. that will not lead to a shift of resources among users b. caused by lack of resource mobility c. caused by economic rent d. that, for example, causes more workers to move to higher-paid areas e. caused by minimum wage legislation
International trade financing is dominated by:
a. the U.S. Agency for International Development. b. private export-import agencies. c. the World Bank. d. the IMF. e. commercial bank syndicates.