According to William Shepherd's examination of competitive trends in the U.S. economy, a dominant firm
a. is a pure monopoly
b. is a firm with over half the market share and no close rival
c. is one of four firms that together supply more than 60 percent of the market
d. is a single firm that controls the entire market and can block entry
e. is one of four firms that work together to block entry into the market
B
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Refer to above figure in which negative externality existed. The government imposes a $1.00 pollution tax on the producer. Supply shifts leftward.
A. This tax will be borne entirely by the producer. B. The amount of the tax shifted to the consumer depends on the consumer's elasticity of the demand curve. C. This tax will be shifted entirely to the consumer. D. The tax will be divided into equal amounts between consumer and producer.
Which of the following transactions would NOT contribute to the GDP?
A. the purchase of a bag of chips from a convenience store B. the purchase of 100 shares of Apple stock C. the purchase of a new Tesla automobile D. the purchase of gasoline for your Honda
Which of the following occurs during a recession?
a. Output falls, employment rises, and unemployment rises. b. Output rises, employment falls, and unemployment falls. c. Output falls, employment falls, and unemployment rises. d. Output rises, employment rises, and unemployment falls. e. Output falls, employment falls, and unemployment falls.
A U.S. resident purchases a bond issued by the Canadian government. If the Canadian dollar appreciates relative to the U.S. dollar over the term of the bond, the U.S. investor will:
A. not see her return affected since exchange rates are flexible. B. see a lower return on her investment as a result. C. see a higher return on her investment as a result. D. none of the answers provided is correct.