In a perfectly competitive market, _____
a. short-run profits attract other firms to the market
b. there are significant barriers to entry
c. firms sell highly differentiated products
d. firms are price makers
a
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Suppose a student is attending your college on an athletic scholarship, and doesn't pay a penny for tuition. According to the economic way of thinking, the student's cost of attending college is
A) zero. B) bore completely by the college's athletic fund. C) positive, because the student sacrificed some other opportunity to attend your college. D) positive, because the student still needs food and housing. E) negative, because nobody really gains by trying to combine athletics with higher education.
If technological change increases the profitability of new investment for firms, then the ________ curve for loanable funds will shift to the ________ and the equilibrium real interest rate will ________
A) supply; right; fall B) supply; left; rise C) demand; right; rise D) demand; left; fall
What are the main arguments for and against Fed independence?
What will be an ideal response?
According to the graph shown, if this economy were to open to trade, the amount consumed domestically would:
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. increase by 35.
B. increase by 90.
C. decrease by 35.
D. decrease by 90.