A firm is said to be a price taker if it:
A) can affect the market price of goods by changing its supply.
B) sells as much of any good as it wants at the prevailing market price.
C) consults the government before fixing the price of its goods and services.
D) is not free to enter a new market or exit from an existing market.
B
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A Nash bargaining solution
A) is not the same as a Nash equilibrium. B) is derived from a Nash equilibrium. C) gives a solution in both cooperative and non-cooperative games. D) None of the above.
For a price ceiling to have an impact on a market it:
A. must be set above the equilibrium price. B. must be set below the equilibrium price. C. must be set at the equilibrium price. D. can lead more goods to be produced in a market.
Suppose an economy’s real GDP is $100,000 in year 1 and $110,000 in year 2. What is the growth rate of its GDP? Assume that population was 200 in year 1 and 205 in year 2. What is the growth rate in GDP per capita?
Please provide the best answer for the statement.
Which of the following Federal Reserve Banks carries out the decisions of the FOMC?
A) the Kansas City Federal Reserve Bank B) the New York Federal Reserve Bank C) the Dallas Federal Reserve Bank D) the San Francisco Federal Reserve Bank E) the Atlanta Federal Reserve Bank