Assume that the tuna fishing industry is perfectly competitive. Which of the following best characterizes the industry if, as demand for tuna increases, fishing boats have to go farther into the ocean to harvest tuna?
A) a fixed-cost industry B) a decreasing-cost industry
C) an increasing-cost industry D) a constant-cost industry
C
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Constructing plastic containers produces air pollutants. Therefore, in the market for plastic containers,
A) the marginal social cost curve is above and to the right of the demand curve. B) the marginal social cost curve is below and to the left of the demand curve. C) the marginal social cost curve is above and to the left of the supply curve. D) the marginal social cost curve is below and to the right of the supply curve. E) there is a gap between quantity supplied and quantity demanded in equilibrium.
Figure 17-3
In , in the absence of trade, the domestic price of soybeans is Pn. If the world price of soybeans is Pw, which of the following will occur when the United States begins to trade internationally?
a.
The domestic price of soybeans will rise, and domestic consumption will fall.
b.
Both the domestic price of soybeans and domestic consumption will rise.
c.
Both the domestic price of soybeans and domestic consumption will fall.
d.
The domestic price of soybeans will fall, and domestic consumption will rise.
Economists Novy-Marx and Rauh contend that
A. cities are in fine shape with regard to their pension liabilities, but that states are not. B. states and cities are in poor shape with regard to their pension liabilities. C. states are in fine shape with regard to their pension liabilities, but that cities are not. D. states and cities are in fine shape with regard to their pension liabilities.
In 2015, the average daily volume on the Federal reserves fed wire system was:
A. $330 billion. B. $3.3 trillion. C. $33 billion. D. $330 million.