In national income accounting, grain fed to a hog at a commercial hog farm is considered a(n)
a. final good.
b. intermediate good.
c. consumer good.
d. capital consumption allowance.
b. intermediate good.
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When a firm has many competitors selling the same good, in order to sell more of the good,
A. it must, ironically, increase prices. B. it must advertise. C. it must reduce the price it charges. D. it only needs to produce more of the good.
In the United States in 2014, of those companies employing more than 200 workers that offer health care to those workers, ________ of employees accept the coverage
A) about 10 percent B) roughly 36 percent C) fewer than two-thirds D) almost 98 percent
Based on Figure 6.1, suppose the government puts a tariff of $0.25 per bushel on soybean imports. How much will the tariff reduce imports?
A) Imports will decrease by 10 million bushels. B) Imports will decrease by 20 million bushels. C) Imports will decrease by 60 million bushels. D) Imports will not change after the tariff.
The market structure in which there is only one producer is called
a. monopoly b. oligopoly c. monopolistic competition d. perfect competition e. duopoly