The demand curve faced by a perfectly competitive firm is
A) horizontal.
B) vertical.
C) downward sloping.
D) upward sloping.
E) U-shaped.
A
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The United States is the largest national economy in the world.
Answer the following statement true (T) or false (F)
One method unions use to ration available jobs among excess workers is
A) lengthy apprenticeships. B) to hire only white collar workers. C) collective bargaining. D) refuse to unionize.
Which of the following statements about the poverty line is true?
A. The percentage of people living below the poverty line has been cut in half in the last 40 years. B. The percentage of people over 65 living below the poverty line has approximately doubled in the last 40 years. C. The poverty line is adjusted upward for inflation every year. D. The percentage of people living below the poverty line has approximately doubled in the last 40 years.
Refer to Scenario 7.4 below to answer the question(s) that follow.SCENARIO 7.4: You own and are the only employee of a company that sells custom embroidered pet sweaters. Last year your total revenue was $120,000. Your costs for equipment, rent, and supplies were $30,000. To start this business you invested an amount of your own capital that could pay you a $50,000 a year return.Refer to Scenario 7.4. A yearly normal return for your company would be
A. $40,000. B. $50,000. C. $70,000. D. $90,000.