Arranging the four market structures according to the number of firms in the industry, from fewest to the most, would be
a. monopoly, monopolistic competition, oligopoly, perfect competition
b. monopoly, perfect competition, oligopoly, monopolistic competition
c. monopoly, oligopoly, monopolistic competition, perfect competition
d. oligopoly, monopoly, monopolistic competition, perfect competition
e. perfect competition, monopolistic competition, oligopoly, monopoly
C
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The existence of a shortage means
A) people are buying more than is available. B) people cannot buy as much as they plan to buy at the prevailing money price. C) prices are too high. D) there is not enough to satisfy everyone's needs.
The poverty rate is the percentage of the population whose family income falls below an absolute level called the
The higher the interest rate, the more a future payment is discounted and the lower its present value
Indicate whether the statement is true or false
An example of ad valorem taxation is
A. a tax on luxury items. B. the Social Security tax. C. the corporate income tax. D. the personal income tax.