Share distribution of income is the relative division of total income among:
A. nationality groupings.
B. income groupings.
C. capitalists, workers, and landowners.
D. socioeconomic groupings.
Answer: B
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All of the following are assumptions of monopolistic competition EXCEPT
A) many buyers and sellers. B) homogeneous product. C) easy entry of new firms in the long run. D) profit-maximizing behavior.
One of the strongest reasons that oligopolies exist is due to
A) the homogeneity of their products. B) marginal cost pricing. C) lowest cost production. D) economies of scale.
Who is affected when a Pigouvian subsidy is imposed on a market with a positive externality?
A. Producers B. Consumers C. Those affected by the externality D. All of these groups would be affected.
A U.S. mutual fund uses $1 million to buy yen from a Japanese bank. It then uses these yen to buy stocks in a Japanese electronics firm. The Japanese electronic firm then exchanges the $1 million dollars of yen for dollars from a U.S. bank. It uses
these dollars to buy equipment manufactured by a company located in the U.S. As a result of these exchanges, by how much, if at all, and in which direction does: A. U.S. net exports change? B. U.S. net capital outflow change?