The over-the-counter market is located in
A) New York.
B) Los Angeles.
C) Chicago.
D) None of the above.
D
You might also like to view...
The data in the above table indicate that when the price level is 120
A) firms have unexpectedly low inventories, so prices will rise. B) inventories are at levels planned by firms. C) firms will plan to increase the level of output. D) firms have unexpectedly high inventories, so prices fall.
If countries have similar factor endowments and productivities, their trade is likely to be interindustry
Indicate whether the statement is true or false
According to the above figure for a gasoline market, what happens when the price per gallon of gasoline jumps from $1 to $4?
A) A gasoline surplus is replaced by a gas shortage. B) The market moves from a shortage of 40 million gallons/day to a surplus of 50 million gallons/day. C) The market shortage is replaced by market equilibrium. D) A surplus of 40 million gallons/day results.
The total revenue curve for a perfectly competitive firm
a. is a vertical line intersecting the horizontal axis b. is a horizontal line intersecting the vertical axis c. starts part way up the vertical axis, then slopes upward in a backwards-S curve d. is a straight line starting from the origin and sloping upward e. starts at the origin, sloping upward at first and then sloping downward