Which of the following is the best example of an intermediate good?
a. a tire purchased by an auto company
b. a new house purchased by a newly married couple
c. grain sold to foreign farmers
d. All of the above are intermediate goods.
a
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The creation of markets that were previously "missing":
A. can create winners and losers. B. increases total surplus. C. benefits those who interact in the new markets. D. All of these are true.
Assume a country is in a fixed exchange rate regime. Now suppose that individuals expect that policy makers will devalue its currency. Explain the various actions that policy makers can choose in response to this expected devaluation
What will be an ideal response?
Because marginal revenue product reflects productivity, increases in productivity directly shift
A. input demand curves to the left. B. input demand curves to the right. C. input supply curves to the left. D. input supply curves to the right.
Which of the following statements is FALSE concerning monopolistic competition?
A) There are many firms. B) Firms sell a differentiated product. C) Each firm's actions influence rival firms. D) Firms are free to enter and exit.