Which of the following is the best example of a firm operating in a monopolistically competitive market?
a. A Kansas wheat farmer.
b. TGI Fridays, a family restaurant.
c. U.S. Postal Service.
d. Boeing, an aircraft manufacturer
b
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Scientific methods used to identify environmental health hazards include all of the following EXCEPT
a. case clusters c. problem formulation b. epidemiological studies d. animal bioassays
The value of a country's exports during a particular year was $610,000 and the value of its imports was $995,000. Which of the following is true?
A) The country ran a fiscal deficit of $605,000 during that year. B) The country ran a trade surplus of $385,000 during that year. C) The country ran a trade deficit of $385,000 during that year. D) The country ran a budget surplus of $1,605,000 during that year.
Everything else equal, if the dollar appreciates against the Chinese yuan:
A) China will stop trading with the U.S. B) China will export more to the U.S. and will import less from the U.S. C) the Chinese government will sell yuan in the foreign exchange market. D) China will import more from the U.S. and will export less to the U.S.
When people make choices that (at the time and with the information they have at their disposal) give them the greatest amount of satisfaction, they are said to be:
a. behaving irrationally. b. applying econometric models to their everyday behavior. c. living under a communist dictator. d. acting in their own self-interest. e. showing no willingness to plan for the future.