In the United States, the typical woman earns about ________ of what the typical man earns
A) 90%
B) 80%
C) 70%
D) 50%
B
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How would the economy of Canada be likely to be characterized?
a) free market b) centrally planned c) mixed, but on the side of centrally planned d) mixed, but on the side of free marker
When deciding what to use as money, one characteristic to look for is its:
A. exchange value. B. convenience. C. shape. D. intrinsic value.
If a "certificate of convenience and public necessity" protects a monopolist's position, the barrier to entry this firm relies on is called
A) a tariff. B) a government license. C) a patent. D) economies of scale.
Answer the following questions true (T) or false (F)
1. As the number of firms in a market increases, the supply curve will shift to the right and the equilibrium quantity will rise. 2. If the population increases and input prices decrease, the equilibrium quantity of a product will definitely increase. 3. If the demand for a product increases and the supply of the product does not change, equilibrium price and equilibrium quantity will both increase.