Walmart has an impact on workers, even in states where they have few stores, because
A. they buy American only.
B. they rarely buy from firms in states in which they have stores.
C. their web-stores are dominant.
D. their pricing policies compel firms to outsource production to low-cost foreign locations.
Answer: D
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Compared with a monopolist, the demand curve faced by a monopolistically competitive firm is
A) more elastic. B) more inelastic. C) perfectly elastic. D) perfectly inelastic.
A fall in the average income of a consumer, say during a recession, is represented by:
a. an upward movement along the demand curve for a good consumed by the consumer. b. a downward movement along the demand curve for a good consumed by the consumer. c. a shift of the demand curve for a good consumed by the consumer. d. a rotation of the demand curve for a good consumed by the consumer. e. an inward shift of the demand curve for an inferior good consumed by the consumer.
Constant returns to scale occur when the firm's long-run
a. total costs are constant as output increases. b. average total costs are constant as output increases. c. average cost curve is falling as output increases. d. average cost curve is rising as output increases.
If a country has Y > C + I + G, then it has
a. positive net capital outflow and positive net exports. b. positive net capital outflow and negative net exports. c. negative net capital outflow and positive net exports. d. negative net capital outflow and negative net exports.