A tax on buyers will cause the ________ schedule to shift ________.
A. demand, left
B. supply, left
C. demand, right
D. supply, right
Answer: A
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Explain the underlying assumptions of the price leadership model. What conclusions can be made about the price charged and the output produced in an industry that has a dominant price leader?
What will be an ideal response?
Which of the following measures market structure?
A. Lerner index B. Herfindahl-Hirschman index C. Four-firm concentration ratio D. All of the choices may be used to make inferences about market structure.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.
If the interest rate is 5%, what is the present value of $10,000 received three years from now?
A. $8,638 B. $9,000 C. $11,600 D. $11,000