Under perfect competition, the per unit revenue of a firm is equal to its marginal revenue
a. True
b. False
Indicate whether the statement is true or false
True
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When one firm sells a good or service that has no close substitutes and a barrier blocks the entry of new firms, what type of market is this?
A) perfect competition B) only monopoly C) oligopoly D) only monopolistic competition E) either monopoly or monopolistic competition
On the graph above, which pair of points best represents a scenario in which the nominal interest rate and expected inflation decline equally?
A) I to H B) G to K C) I to J D) K to F E) J to H
One way to solve the problems caused by information asymmetry is:
A. proofing. B. surfing. C. signaling. D. All of these are solutions to information asymmetry.
Compared with the 19th century, during the colonial period technological changes that raised output relative to inputs:
a. were slow and steady. b. increased in the early part of the period, but fell off dramatically after 1643. c. remained minor and sporadic. d. increased dramatically after 1643.