Table 14.4Table 14.4 represents 3 markets for used motorcycles. Which of the markets in Table 14.4 are not in equilibrium?
A. 1 only
B. 2 only
C. 3 only
D. 1 and 3
Answer: D
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The Federal Trade Commission was created by Congress as an expert body to
A) help small businesses compete by offering technical advice and assistance. B) help small businesses compete by providing low-interest start-up loans. C) prevent insider trading. D) promote competition by preventing trade practices held to be unfair. E) regulate prices on spot and futures markets.
In the IO perspective it is important to enter an industry with
a. Low supplier power b. Low threat from substitutes c. Low levels of rivalry between firms d. All of the above
If the growth rate of employment is positive but labor productivity remains unchanged, which of the following is likely to happen? a. Real GDP will either decrease or remain constant. b. Real GDP will decrease
c. Real GDP will remain constant. d. Real GDP will either increase or remain constant. e. Real GDP will increase.
Diseconomies of scale are present when the long run average total cost of production declines as output expands
a. True b. False Indicate whether the statement is true or false