In a market with a bilateral monopoly:
A) there is a single buyer and a single seller.
B) there are many buyers and a single seller.
C) there is a single buyer and few sellers.
D) there are a few buyers and many sellers.
E) there are a few buyers and a few sellers.
A
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The collapse of the Bank of Credit and Commerce International, BCCI, showed the difficulty of international banking regulation. BCCI operated in more than ________ countries and was supervised by the small country of ________
A) 70, Luxembourg B) 100, Monaco C) 70, Monaco D) 100, Luxembourg
When the economy is at its potential output level, which of the following is true? a. The price level is higher than that expected by workers. b. The nominal wage is equal to the real wage
c. The unemployment rate is about 14 percent. d. The economy is producing its maximum sustainable output. e. The actual price level is less than the expected price level.
An economic slow-down would cause the labor:
A. demand curve to shift left. B. demand curve to shift right. C. supply curve to shift left. D. supply curve to shift right.
If the credits for a principles of economics section is three units and an instructor teaches two sections with 100 students in each and tuition and fees at your school are $100 per unit, then the marginal revenue product for your school from hiring that instructor that semester is:
A. $100. B. $300. C. $30,000. D. $60,000.