Which of the following is a characteristic of a perfectly competitive market?
a. Homogeneous products
b. Barriers to entry.
c. Substantial expenditures on advertising.
d. All of the above.
a
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The division of the burden of a sales or excise tax on demanders and suppliers:
a. Is always equal. b. Is always higher for demanders. c. Is always higher for suppliers. d. Depends on the shapes of the demand and supply curves.
The real interest rate can be thought of as
A) the price of current consumption relative to future consumption. B) the price of current consumption completely smoothed over a lifetime. C) the price of future consumption smoothed completely over a lifetime. D) the price of current consumption divided by the price of current saving.
The interest rate charged on a risk-free loan exceeds the rate on a risky loan
a. True b. False
How do firms benefit by maintaining public relations and influencing the government? Explain with examples