We consider ________ least likely to be a firm in an imperfectly competitive industry.
A. the only locally owned and operated television station in Portland, Oregon
B. a corn farmer in Ohio
C. Con Edison utility company
D. a Starbucks in Houston, Texas
Answer: B
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The labels for the axes of the aggregate demand graph should be ________.
A. quantity of a product on the vertical axis and the price of a product on the horizontal axis B. real domestic output on the vertical axis and the price level on the horizontal axis C. real domestic output on the horizontal axis and the price level on the vertical axis D. price of a product on the vertical axis and quantity of a product on the horizontal axis
Refer to Table 9-15. Looking at the table above, real average hourly earnings in 2014 were
A) $9. B) $9.52. C) $10. D) $12.63.
The following equations represent the demand and supply for bird feeders
QD = 35 - P QS = -5 + 3P What is the equilibrium price (P) and quantity (Q - in thousands) of bird feeders? A) P = $35; Q = 20 thousand B) P = $5; Q = 30 thousand C) P = $10; Q = 25 thousand D) P = $20; Q = 20 thousand
In 1940 _____ of the population over 25 had a college degree
a. less than 5 percent b. around 10 percent c. around 15 percent d. more than 20 percent