A perfectly competitive firm's marginal revenue is:
A. sometimes below and sometimes above the selling price.
B. less than the selling price.
C. greater than the selling price.
D. equal to the selling price.
Answer: D
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By 2006, 20 percent of the mortgage market consisted of:
A. securitized loans, and the rest were backed by the government. B. subprime loans, while 80 percent were still regular prime mortgages. C. individual mortgage loans, and an overwhelming 80 percent had become securitized loans. D. prime loans, and an overwhelming 80 percent had become subprime mortgages.
Securities exchanges pay no attention to hedge funds
a. True b. False
In economics, the concept of opportunity cost is:
a. negated by ensuring that the government has a role in a capitalist society. b. defined to be the highest-valued alternative that must be forgone when a choice is made. c. best illustrated by knowing why consumers choose one good over another. d. quantifiable only if you know the real dollar price of the goods and services you are giving up to consume something. e. the methodology that government economists use to determine the total amount of the national debt.
The main international repercussion of either a fiscal expansion or monetary contraction is to
a. raise interest rates and the exchange rate, thereby crowding out net exports. b. raise interest rates and lower the exchange rate, thereby crowding in net exports. c. lower interest rates and the exchange rate, thereby crowding in net exports. d. lower interest rates and raise the exchange rate, thereby crowding out net exports.