In the production of cell phones, Apple and Samsung are ________, so there is ________ on economic profits to go to zero.
A. oligopolists; pressure
B. perfect competitors; pressure
C. monopolists; no pressure
D. oligopolists; no pressure
Answer: D
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If a country sets a pegged exchange rate that is above the equilibrium exchange rate, how can the country maintain the peg?
A) by purchasing surplus domestic currency at the pegged rate B) by purchasing surplus domestic currency at the equilibrium exchange rate C) by selling surplus domestic currency at the pegged rate D) by increasing the pegged exchange rate
When the tax rate increases, the tax revenue
A) always increases. B) does not change. C) always decreases. D) may increase or decrease.
Which of the following statements is most likely true?
a. In the long term, low or moderate levels of inflation may not pose an overwhelming difficulty for business planning because costs of doing business and sales revenues may rise at similar rates. b. In the short term, high levels of inflation may not pose an overwhelming difficulty for business planning because costs of doing business and sales revenues may rise at similar rates. c. In the long term, high levels of inflation may not pose an overwhelming difficulty for business planning because costs of doing business and sales revenues may rise at similar rates. d. In the short term, low or moderate levels of inflation may not pose an overwhelming difficulty for business planning because costs of doing business and sales revenues may rise at similar rates.
In the factor payments approach, owners of land receive
a. wages b. user fees c. rent d. interest e. profit