If an industry is a constant-cost industry
a. prices of its inputs increase even though output remains constant
b. it uses inputs at higher levels of output
c. prices of its inputs rise at a constant rate as it uses more inputs
d. prices of its inputs remain constant as the number of firms increases
e. firms in the industry experience economies of scale
D
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If the price of personal computers were to rise, then the demand for printers would decrease because personal computers and printers are
A) complementary goods. B) consumer goods. C) inferior goods. D) substitute goods.
A corporation is not
a. a legal identity separate from shareholders b. eligible to issue stock as a method of acquiring capital to expand operations c. allowed to file for bankruptcy protection d. a business form allowing owners to earn income e. a business organization whose ownership is the same as management
The typical value for the MPC is less than 1.0
a. True b. False Indicate whether the statement is true or false
When the government provides food stamps to low-income households:
A. the household definitely purchases more food. B. the household purchases less food. C. purchases of food may increase or decrease. D. the household's utility is greater than if they received cash aid.