Which of the following jewelry stores names would most likely convey very high quality products?
a. Main Street Jewelry
b. Tiffany’s
c. Discount Gems
d. Bill’s Baubles
b. Tiffany’s
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An official settlements account balance of -$5,000 means
A) official reserves of foreign currency increased by $5,000. B) official reserves of foreign currency decreased by $5,000. C) the country is exporting more than it is importing. D) the country is importing more than it is exporting.
Refer to Figure 16-5. Consider the following two pricing strategies:
a. a fixed fee and a per-unit price equal to the monopoly price b. a fixed fee and a per-unit price equal to the competitive price The firm represented in the diagram earns a higher profit under strategy ________ and deadweight loss is eliminated under ________. A) a; b B) b; b C) a; neither strategy D) b; neither strategy
If national income is $400 billion, autonomous consumption is $60 billion, and MPC is 0.8, what is the level of saving?
a. $20 billion b. $210 billion c. $380 billion d. $590 billion e. $780 billion
Which of the following is true of pure monopoly?
a. Monopoly expands the options available to consumers. b. Monopoly results in allocative inefficiency. c. Profits and losses induce firms to enter and exit from industries. d. Monopoly works well when governments regulate prices.