If a brewery wants to raise funds to purchase a new fermenting vat, it does so in the
A) factor market.
B) output market.
C) product market.
D) alcoholic beverages market.
Answer: A
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The price elasticity of demand for a good that is a necessity is likely to be:
A) unit elastic. B) perfectly elastic. C) elastic, but not perfectly elastic. D) inelastic.
To help with motivation, long-term productivity, and retention, firms with internal labor markets tend to offer all of the following except
A. benchmark competitive wages. B. efficiency wages. C. pay based on job seniority. D. internally based promotion systems.
Along a perfectly competitive industry's long-run supply curve
A. the market price is higher than the marginal costs of firms B. the number of firms is constant. C. economic profits are zero. D. economic profits are positive.
Which of the following is a series of events that accurately describes the steps by which restrictive monetary policy is effective?
A. Increase in M1, decrease in investment, and decrease in interest rate. B. Decrease in interest rate, decrease in M1, and increase in investment. C. Decrease in M1, increase in interest rate, and decrease in investment. D. Increase in M1, increase in interest rate, and increase in investment.