Which of the following countries have instituted liberal reforms and substantially improved their economic freedom rating since 1990?
a. Japan and Italy
b. Nigeria and Pakistan
c. Sierra Leone and Zimbabwe
d. Estonia and Hungary
D
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Refer to the scenario above. If they are the only bidders in the auction and each bidder uses his optimal strategy, the maximum price the winner is likely to pay is ________
A) $210 B) $350 C) $500 D) $625
What is the relation between the unemployment rate and the proportion of unemployed workers who have been unemployed for 15 weeks or longer?
A) Both rise in recessions. B) Both rise in expansions. C) The unemployment rises in recessions but the proportion of unemployed workers who have been unemployed for 15 weeks or longer declines in recessions. D) The unemployment falls in recessions but the proportion of unemployed workers who have been unemployed for 15 weeks or longer rises in recessions.
The manufacturers of information products typically
A) have low fixed costs. B) have high marginal costs. C) have high fixed costs. D) have zero fixed costs.
Firms in industries that have competitors but do not face so much competition that they are price takers are operating in either a(n)
a. oligopoly or perfectly competitive market. b. oligopoly or monopoly market. c. oligopoly or monopolistically competitive market. d. monopoly or monopolistically competitive market.