A supply schedule shows
a. the "market potential" for a product.
b. how much producers are willing and able to sell at different prices.
c. possible combinations of output under different conditions.
d. how much consumers would like to buy at different prices.
e. All of the above are correct.
b
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Which of the following is the best example of a vertically integrated firm?
a. General Electric, which produces light bulbs, jet engines, washing machines, and so on b. Kinko's, which has a photocopy store near many colleges and universities c. Americam Apparel, which from a single building in downtowm LA, controls the dyeing, finishing, designing, sewing, cutting, marketing and distribution of the company's product. d. Intel, which makes computer chips for most of the computer manufacturers e. Century 21, which has real estate offices that help people sell a house in one city and buy another house in another city
The Gini coefficient in most countries is greater than one
Indicate whether the statement is true or false
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.
The Federal Reserve System
A. oversees the Congress and Senate. B. is a branch of the Commerce Department. C. is the central bank of the United States. D. controls the Treasury Department.