The dollar shortage in international exchange markets in the early 1950's was related to
a. an outflow of gold from the United States.
b. large surpluses in the U.S. balance of trade.
c. large deficits in the U.S. balance of trade.
d. both an outflow of gold from the United States and large surpluses in the U.S. balance of trade.
b. large surpluses in the U.S. balance of trade.
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In the short run, the monopolistic competitor is just like the perfect competitor in that
A) equilibrium is determined by setting price equal to marginal cost. B) either type of firm can earn economic profits, experience economic losses, or break even in the short run. C) each equates marginal revenue and marginal cost in order to maximize profits, with the result that price exceeds marginal revenue. D) new firms enter in the short run when firms are making profits.
In the mid 90's, over _____% of all black families are headed by women.
A. 30 B. 45 C. 60 D. 75
Refer to the information provided in Figure 1.6 below to answer the question(s) that follow.
Figure 1.6Refer to Figure 1.6. The slope of the line between Points A and B is
A. negative and decreasing. B. positive and constant. C. negative and constant. D. positive and increasing.
Consider a monopolist that has a total cost curve of TC = 110Q - (0.25)Q 2 . The market demand equation is Q d = 155 - P.
(A) What are the total revenue, marginal revenue, marginal cost, equilibrium quantity, equilibrium price, and profits for the monopolist in this market? (B) Suppose the government instructs the firm to produce using average cost pricing. What are the equilibrium quantity, equilibrium price, and profits? (C) Suppose further that the government wants the firm to produce where supply equals demand. What will be the equilibrium quantity, equilibrium price, and profits?