Which of the following is not a characteristic of a competitive market?
A. A large number of buyers and sellers.
B. Firms can enter and exit the market freely.
C. Firms sell differentiated products.
D. All market participants have full information about cost and prices.
Ans: C. Firms sell differentiated products.
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At each value of the domestic interest rate, decreases in the riskiness of domestic assets ________ capital inflows, ________ capital outflows, and ________ net capital inflows.
A. increase; decrease; increase B. increase; increase; decrease C. increase; increase; increase D. decrease; decrease; decrease
A decrease in the quantity supplied is represented by a
A) movement down the supply curve. B) movement up the supply curve. C) rightward shift in the supply curve. D) leftward shift in the supply curve.
Downward sloping long-run supply curves occur in markets
A) with learning-by-doing. B) with increasing returns to scale. C) with constant returns to scale. D) Either A or B
Billy loses his job as a road construction worker and cannot find another position with equivalent pay and benefits. As a result, he is still checking the want ads and reporting to the unemployment office on a weekly basis. He is considered to be: a. unemployed
b. out of the labor force. c. underemployed. d. lazy.