If a firm produces in a perfectly competitive output market,
a. then it demands its resources in perfectly competitive input markets
b. then it demands labor in a perfectly competitive labor market
c. the type of market in which it demands labor may be perfectly competitive or imperfectly competitive
d. the labor demand curve is the same as its product demand curve
e. the labor demand curve facing the firm is perfectly elastic
C
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The current deficit is
A) the deficit minus government investment. B) the deficit plus net interest payments. C) the deficit minus current expenditures. D) the deficit minus depreciation.
Refer to the information above. In which period does net investment reach its peak?
A) 1 B) 2 C) 3 D) 4 E) 5
The implicit cost of ownership:
A. is a cognitive bias if it goes ignored. B. leads people to value things more once they possess them. C. is a nonmonetary opportunity cost that is often overlooked. D. All of these are true.
Which of the following is true?
a. When economies of scale are important in an industry, the domestic market of a small country may not be large enough to support cost-efficient firms. b. In small countries, firms in industries where economies of scale are important will tend to export little, if any, of their output. c. The size of the trade sector (exports plus imports) as a share of GDP will generally be larger in more populous countries than in smaller less-populated countries. d. Countries with higher trade barriers have higher growth rates.