Which of the following is not a characteristic of perfect competition?
a. Firms and consumers all have perfect information about the good and market.
b. Sellers can enter the market easily.
c. All goods sold are identical.
d. All consumers have identical individual demand curves.
d
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In the graph above, what do the dotted lines represent?
A) transaction and opportunity costs B) the boundaries of profitability for arbitrage C) the risk premium associated with the countries D) the variability in spot rate expectations
The steeper an isoquant is,
A) the greater is the marginal productivity of labor relative to that of capital. B) the greater is the substitutability between capital and labor. C) the greater is the need to keep capital and labor in fixed proportions. D) the greater is the level of output.
The highest tariff rates of the twentieth century in the United States arose as a result of which law?
A) the Robinson-Patman Act B) the Tariff of Abominations Act C) the Wheeler-Lea Act D) the Smoot-Hawley Act
Which of the following provides a measure of the overall fit of a regression?
A. The F-statistic and R-square B. F-statistic C. R-square D. t-statistic