Studies of NAFTA have concluded that from 1994 to 2003, free trade caused ______ increases in the productivity of Mexican maquiladora firms producing for export than for Mexican firms mainly producing for the Mexican domestic market.
a. larger
b. smaller
c. identical
d. substantially larger
Ans: a. larger
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Indicate whether the statement is true or false
The market for widgets is divided as follows: Wally's Widgets has 45 percent of the market; Willy's Widgets has 22 percent of the market; Woody's Widgets has 10 percent of the market; and Wanda's Widgets has 8 percent of the market. The other 542 firms in the widget industry have the remaining 15 percent of the market. How would you describe the widget market?
Which of the following is a consequence of rent controls established to keep housing affordable for the poor?
A. Less rental housing is available as prospective landlords find it unprofitable to rent at restricted prices. B. The quality of rental housing declines as landlords lack the funds and incentive to maintain properties. C. Apartment buildings are torn down in favor of office buildings, shopping malls, and other buildings where rents are not controlled. D. All of these are consequences of rent controls.
Firms in a perfectly competitive market:
A. sell a differentiated product. B. sell homogeneous products. C. usually have large advertising budgets. D. try to attract customers away from their competitors.