Markets may fail to allocate resources efficiently when property rights are not well established
a. True
b. False
Indicate whether the statement is true or false
True
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The Fed's first forward guidance in 2009 was framed in terms of keeping interest rates low
A) for an extended period. B) at least until a particular date in the future. C) based on outcomes for the unemployment rate and inflation rate. D) until the next Presidential election.
An improvement in the quality of U.S. goods would lead to a ________ in the demand for dollars and a ________ in the exchange rate
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Perfect competition and monopolistic competition are similar in that firms in both types of market structure will
A) act as price takers. B) produce a level of output where price equals marginal cost. C) earn zero profit in the long run. D) act as price setters.
A characteristic of outsourcing is
a. completely unrelated to vertical integration b. likely to be profitable exactly when vertical integration is profitable c. can allow a firm to focus on its core competencies d. it prevents the exploitation of differing degrees of economies of scale at different points in the supply chain