For a monopoly, for all units greater than one, the marginal revenue curve:
A. lies below the average revenue curve.
B. lies above the demand curve.
C. cannot be negative.
D. All of these statements are true.
Answer: A
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The most common form of business organization, as far as the number of such firms in business, is the
A) proprietorship. B) partnership. C) corporation. D) S corporation.
The basis for designing an effective export strategy most likely begins with ________.
A) identifying and developing the firm's core competencies B) hiring local personnel in target markets to build the business C) enlisting the support of an export management company D) simultaneously targeting a large number of foreign markets
The misery index diminished during the first Reagan administration, which means that the Phillips curve
A. Shifted to the right, thereby implying that stagflation had become a more acute problem than before. B. Shifted to the left, thereby implying an easing of the trade-off between inflation and unemployment. C. Maintained its position despite important changes in the composition of the labor force. D. Flattened out, thereby implying that some amount of inflation is consistent with any rate of unemployment.
Which of the following statements would a Classical economist of the 1930s most likely disagree with?
A. In the short-run the economy might experience some problems. B. Unions do not impede wage and price adjustment. C. The market, left to its own devices, is self-adjusting. D. Wages and prices will adjust to eliminate unemployment.