Heavy advertising expenditures usually indicate
a. oligopoly.
b. pure competition or monopolistic competition.
c. oligopoly or monopoly.
d. differentiated pure competition or monopoly.
a
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The working population of the United States is approximately
A. 160 million. B. 290 million. C. 340 million. D. 1.3 billion.
An upward-sloping supply curve of Korean won in terms of Canadian dollars indicates that:
a. the higher the dollar price of Korean won, the more won will be demanded. b. the higher the dollar price of Korean won, the fewer won will be supplied. c. the lower the dollar price of Korean won, the more won will be demanded. d. the lower the dollar price of Korean won, the fewer won will be supplied. e. the Korean economy is stronger than the Canadian economy.
If a union wishes to maximize the number of union members employed, it will
A) accept the competitive wage. B) set a wage below the competitive wage. C) set a wage where the elasticity of demand for labor equals one. D) set a wage above the competitive wage.
A demand curve is a graph:
A. that shows the quantities demanded by consumers of a particular good or service at one price. B. that shows the quantities demanded by consumers of a particular good or service at various incomes. C. depicting various price-quantity combinations of a good for a seller. D. that visually displays the demand schedule.