In a perfectly competitive market, a new firm can enter without any cost
a. True.
b. False.
B
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A corporation with “plowback”
A. deliberately earns negative profit on some activities in order to get better tax treatment. B. buys back shares of its stock from shareholders. C. retains some of its earnings for investment. D. issues unsecured stock.
Which of the following statements can be called a productivity-revealing theory?
a. human-capital theory and signaling theory b. human-capital theory but not signaling theory c. signaling theory but not human-capital theory d. neither human-capital theory nor signaling theory
Gold standard is an arrangement whereby the currencies of most countries are convertible into gold at a fixed rate
Indicate whether the statement is true or false
Fiat money
a. has no intrinsic value. b. is backed by gold. c. is a medium of exchange but not a unit of account. d. is any close substitute for currency such as checkable deposits.