A monopolistically competitive market is marked by the barriers to entry of new firms in the long run
a. True
b. False
Indicate whether the statement is true or false
False
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In Eugene, Oregon, next year there is a 2% chance of an earthquake severe enough to destroy all buildings and personal property
Quincy, who has $3,000,000 in buildings and personal property, has the opportunity to purchase complete earthquake insurance. Which is true? A) Quincy should not purchase earthquake insurance unless he can get it for less than $60,000, because that's all he could possibly lose in an earthquake. B) Quincy should not purchase earthquake insurance unless he can get it for less than $60,000, because that's his expected loss in an earthquake. C) If Quincy buys earthquake insurance, and an earthquake does not occur, he will have received no utility from the transaction. D) What Quincy is willing to pay for the earthquake insurance depends upon his degree of risk aversion. E) Quincy should be willing and able to pay up to $3,000,000 for earthquake insurance.
The World Bank obtains the funds it lends by:
a. selling bonds on the international bond market. b. selling bonds to countries it has loaned funds to. c. collecting each country's annual membership fee or quota. d. levying a small tax on every foreign exchange conversion worldwide. e. depending on voluntary subsidies from member nations.
________ means committing oneself to an uncertain future value of one's net worth in terms of home currency.
A. Selling B. Importing C. Hedging D. Speculating
Which of the following is the central bank of the United States?
A) Comptroller of the Currency B) Treasury Department C) Federal Reserve System D) Office of the Budget