The market level of rent
a. is entirely determined by the demand side.
b. is determined by its elastic supply.
c. is difficult to determine because of shifts on the supply side.
d. generally settles at levels below any rent controls favored politically.
a
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Which of the following is NOT a characteristic of a perfectly competitive industry?
A) There are many firms. B) There are no restrictions on entry into the market. C) Each firm produces a slightly differentiated product. D) Each firm takes price as given, determined by the equilibrium of industry supply and industry demand.
Countries with high rates of economic growth tend to have
A) a lower life expectancy at birth. B) low rates of technological advancement. C) a declining incidence of business cycle fluctuations. D) a labor force that is more productive.
Suppose a manager is deciding whether or not to purchase a piece of equipment to make an input internally and has completed the majority of the net present value (NPV) calculations. The manager has correctly calculated the NPV to be equal to: NPV = ($1.023 × Q) - $350,000, where Q is the annual quantity of the input the firm needs. In order for the NPV to be positive, the firm needs at least
________ units of the input each year. A) 342,131 B) 153,985 C) 289,526 D) 35
Which of the following is considered a macroeconomic topic?
A. iTunes raises the price of its pop artists' music only. B. The labor force participation rate in the US fell by 1 percent in 2010. C. iTunes raises the price of all its music. D. Jay-Z decides to sell his Brooklyn Nets minority ownership.