Refer to the following graph.
With free trade, this country's citizens can consume the greatest amount of both good A and good B if the country produces at point
A. P.
B. G.
C. F.
D. H.
Answer: B
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If the price of automobiles were to decrease substantially, the demand curve for automobiles would most likely
A) shift rightward. B) shift leftward. C) remain unchanged. D) become steeper.
Under what conditions will a firm's long-run producer surplus exceed their economic rents?
A) The firm requires land resources in the production process. B) The firm has access to specialized tools or technology that other firms do not own. C) The firm has access to knowledge or human capital that other firms do not own. D) The firm is operating in an imperfectly competitive market.
Oil companies lobbying the government for gasoline price supports are engaging in rent-seeking behavior.
Answer the following statement true (T) or false (F)
The expected rate of return from a share of stock consists of:
a. a dividend return b. capital appreciation (or depreciation) c. interest d. a and b only e. a, b, and c