What is the type of companies that provide services by linking individuals to others with similar interests or to companies that sell certain products?
A. not-for-profit firms
B. government agencies
C. non-transaction firms
D. platform firms
Answer: D
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A new chain-weighted measure of real GDP
a. was introduced by the Bureau of Economic Analysis in 1995. b. uses the average of prices in a given year and prices in the previous year instead of using prices in a base year as weights. c. differs greatly from previous measures that utilized the base year method. d. Both a and b e. All of the above
Classical economists believed that:
a. price flexibility automatically directs market economies to full employment. b. budget deficits and surpluses were necessary for the control of economic fluctuations. c. market economies suffer prolonged periods of recessions and depressions. d. market economies are inherently unstable because of fluctuating aggregate demand.
Nascent industries require adequate protection from foreign competition because:
a. they experience economies of scale at the initial stages of production. b. they experience diseconomies of scale at high levels of output. c. the quality of the products of such industries are comparatively inferior than the products of their foreign competitors. d. they could undermine other developed industries by selling higher quality products at lower prices. e. their initial costs of production are considerably high and they incur losses.
Which of the following is a primary difference between price searchers and price takers?
a. Price searchers maximize profits, but price takers do not. b. Price searchers have to cut their price to sell additional output, but price takers do not. c. The market demand for goods produced by price searchers is downward sloping, while the market demand for goods produced by price takers is horizontal. d. Profit-maximizing price searchers will expand output to the quantity where marginal revenue equals marginal cost, but price takers will not.