In a perfectly competitive industry, influence over price is exerted by
a. individual sellers.
b. individual buyers.
c. the largest firms.
d. the forces of supply and demand.
d
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How would you characterize the main difference between causes of death in developing and developed countries? What are the implications for how to reduce the death rate?
What will be an ideal response?
Federal individual income taxes illustrate the ability-to-pay principle of taxation
a. True b. False
If Scotland produces only mead, and England produces only ale, how many pints of ale would buy one pint of mead?
a. no fewer than the opportunity cost of mead in Scotland b. fewer than the opportunity cost of mead in Scotland c. fewer than the opportunity cost of mead in England d. as many pints of mead as you can buy with one pint of ale e. not enough information given
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and real GDP in the context of the Three-Sector-Model? a. The real risk-free interest rate rises and real GDP falls
b. The real risk-free interest rate falls and real GDP rises. c. The real risk-free interest rate rises and real GDP remains the same. d. The real risk-free interest rate and real GDP remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.