Which of the following would cause prices to rise and real GDP to fall in the short run?
a. an increase in the expected price level
b. an increase in the capital stock
c. an increase in the quantity of labor available
d. All of the above are correct.
A
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Which of the following is an example of an ordering cost for goods held in inventory?
A) the costs of securing the inventory B) the managerial time spent creating an order for inventory C) the cost of storage D) the opportunity cost of using funds to finance the inventory
Which of the following best resembles a perfectly competitive market?
a. a stock market b. the book publishing industry c. the steel industry d. the used car industry
The air we breathe is essential, yet a tax on air is not feasible for all the following reasons except
a. a lack of public support for the tax b. the demand for air is elastic c. non-taxpayers could breathe d. citizen could move away from taxed regions e. it would require a tyrannical leader/government
Antitrust laws are designed to
a. preserve competition. b. protect the environment. c. protect the public's trust in the government. d. all of the above.