If many firms producing similar headphones enter the market, the demand for the headphones produced by existing firms will most likely ______.
a. be reduced
b. increase
c. remain constant
d. fluctuate
a. be reduced
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Jones can brew 10 gallons of lager or 5 gallons of stout every three months, or any linear combination in between. Which statement below is true?
A) It costs Jones 5 gallons of stout for every 10 gallons of lager brewed. B) It costs Jones 1 gallon of stout for every 2 gallons of lager brewed. C) It costs Jones 1/2 gallon of stout for every 1 gallon of lager brewed. D) All of the above are true.
Which of the following interest rates will be least affected by a shift in monetary policy that alters the money supply?
a. a three-month certificate of deposit b. interest on checking accounts c. a one-year bank loan d. a thirty-year home mortgage
Efficiency wages tend to:
A. reduce costs in the short run but increase them in the long run. B. raise costs in both the long run and the short run. C. reduce costs in both the long run and the short run. D. increase costs in the short run but reduce them in the long run.
If there is a federal budget surplus, then government revenues are greater than its expenditures.
Answer the following statement true (T) or false (F)