An industry in which its firms' cost structures do not vary with changes in production is referred to as a
A. price-taking industry.
B. constant-cost industry.
C. price-controlled industry.
D. fixed-price industry.
Answer: B
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Most international investment finance today comes from
A) portfolio and foreign direct investment. B) tax collections. C) government financing. D) the sale of antiques.
The marginal utility of a unit of good Y to Jane is
A. the additional utility that Jane gets from consuming one more unit of Y. B. defined in money terms as the minimum amount Jane is willing to pay for that additional unit of Y. C. defined in money terms as the maximum amount Jane is willing to pay for all the Y she buys except that additional unit. D. All of the responses are correct.
If wages and prices adjust rapidly, we would expect expansionary monetary policy to be
A) more likely to affect the unemployment rate. B) more likely to reduce the natural rate of unemployment. C) less likely to affect the unemployment rate. D) less likely to result in a vertical short-run Phillips curve.
A noisy monopoly
A) will be regulated by the Federal Trade Commission until it reduces its noise emissions. B) sells products under its own label for a low price, and sells the virtually identical product with the same quality under a private label for a higher price. C) sells products under its own label for a high price, and sells the virtually identical product with the same quality under a private label for a lower price. D) leverages the Lemon Law to sell both good and poor quality goods for the same price.