Which of the following is one of the necessary conditions for perfect competition?

A. Diminishing utility
B. Indivisible setup costs
C. No barriers to entry
D. Differentiated products


Answer: C

Economics

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In the figure above, 10 percent of income in country C is distributed to the

A) richest 10 percent of the households. B) poorest 10 percent of the households. C) poorest 30 percent of the households. D) poorest 70 percent of the households.

Economics

Which of the following best describes supply-side economics?

A) Education affects the incentive to work, save, and invest and, therefore, aggregate supply. B) Tax rates, particularly marginal tax rates, affect the incentive to work, save, and invest and, therefore, aggregate supply. C) Labor productivity affects aggregate supply. D) Education affects labor productivity which affects aggregate supply.

Economics

If a person is risk averse, then she has negative marginal utility of wealth

Indicate whether the statement is true or false

Economics

Which of the following situations is an example of bank mismanagement?

a. Bank A receiving a deposit of $40,000 from a client and giving it out as a loan to another client the next day b. Bank B giving a loan to a client, knowing he probably would not pay it back c. Bank C investing in bonds issued by the federal government since it could not find potential borrowers d. Bank D selling a loan to Bank C since it did not have resources to recover the loan

Economics