Strategic decision making is most likely to occur in which market structure?
A. Oligopoly
B. Monopolistic competition
C. All firms engage in strategic decision making.
D. Perfect competition
Answer: A
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A country's balance of payments shows a
A) detailed record of the import and export of services for the country. B) detailed record of the country's imports. C) summary record of international financial assistance received by the country. D) summary record of a country's economic transactions with foreign residents and governments over a year.
The components of the U.S. current account balance are:
a. goods, services, expense receipts and payments, and unilateral transfer. b. goods, services, income receipts and payments, and unilateral transfer. c. goods, services, and unilateral transfer. d. income receipts and payments, and unilateral transfer.
Money as defined by M1 includes
a. coins. b. paper money. c. checking deposits. d. travelers' checks. e. All of the above are correct.
The optimal amount of air pollution is
A) found by equating the marginal benefits from reducing pollution by one more unit with the marginal costs of reducing pollution by an additional unit. B) found by equating the total benefits from reducing pollution by one more unit with the total costs of reducing pollution by an additional unit. C) found by setting the marginal benefits from reducing pollution by one more unit equal to zero. D) a meaningless concept since we cannot monetize the environment.