A firm operating in a purely competitive resource market faces a resource supply curve that is:
A. perfectly inelastic.
B. perfectly elastic.
C. highly inelastic.
D. highly elastic.
Answer: B
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Elimination of minimum brokerage commission rates occurred because of
A) competition from banks. B) demands of institution investors. C) competition from foreign brokerage firms. D) an action of the Securities and Exchange Commission.
Which of the following would tend to increase unemployment in the short run?
a. commercial banks calling in loans to build up their excess reserves b. an increase in reserve requirements c. an increase in the discount rate d. all of the above
If Jayla's tax liability increases from $10,000 to $16,000 when her income increases from $30,000 to $40,000, her marginal tax rate is
a. 33 percent. b. 35 percent. c. 50 percent. d. 60 percent.
Refer to the market graph below for tickets to a "Final Four" sports event. Given this market, if the event organizers pre-set the price at $20, then this action would result in a:
The graph below shows the market for tickets to a "Final Four" sports event. Assume that there is only one kind of ticket to the event.
A. Shortage of 5,000 units
B. Shortage of 55,000 units
C. Surplus of 5,000 units
D. Surplus of 50,000 units