When you purchase a new pair of jeans you do so in the
A) factor market. B) resource market. C) input market. D) product market.
D
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If a cartel firm is producing a quantity at which the marginal revenue is $2 and the marginal cost is $2, the firm ________.
A) is producing less than the agreed upon quantity B) has erected a barrier to entry C) is producing the agreed upon quantity D) has acted in self-interest
Baseball Cards Your favorite uncle left you his baseball card collection in his will. Since you are not a fan, you auction them off on an Internet website. Since nothing was created, how could this decision have created wealth?
Euro-optimists are convinced that with OCA criteria as guiding principles:
A) Eurozone members will never again be caught in the trap of fiscal irresponsibility. B) the euro will strengthen against other world currencies to the extent that even occasional debt issues will not affect it. C) greater market integration will bring about labor and capital mobility and increased trade that will serve to strengthen the Eurozone. D) the ECB will be able to loosen its stranglehold and provide sufficient liquidity for the Eurozone economies to thrive.
In 2006, the U.S. savings rate was:
A. positive. B. negative. C. zero. D. at a record high level.