Suppose we have an economy for which G = 300, T = 240, S = 80, I = 45, and imports = 40. Exports must be
A) 25.
B) 40.
C) 15.
D) 65.
E) -25.
C
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At the twenty-fifth anniversary of the Woodstock Festival in 1994, there were many vendors who sold tie-dyed t-shirts. No matter where one went, each vendor was selling these t-shirts for $15 a piece. Which market structure model would best characterize such a situation?
a. Perfect competition b. Monopolistic competition c. Monopoly d. Oligopoly e. Monopsony
Which of the following equations shows inelastic demand?
a. ED < 1 b. ED >1 c. ED = 1 d. ED x 1
The market demand in a Bertrand duopoly is P = 15 ? 4Q, and the marginal costs are $3. Fixed costs are zero for both firms. Which of the following statement(s) is/are true?
A. P = $10 B. P = $15 C. P = $3 D. None of the answers is correct.
The process by which new ideas spread from the original company to other businesses in the economy is called
A. innovative revolution. B. patent dispersion. C. technological diffusion. D. Moore's process.