Which of the following is most likely to be a monopolistically competitive firm?
A. a municipal water district
B. a soybean farmer
C. a fast food restaurant
D. a lettuce farmer
Answer: C
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Which of the following most accurately describes the changes in GDP and unemployment between 1929 and 1933?
a. Real GDP changed little but the unemployment rate increased to about 50%. b. Real GDP increased by about 10% and the unemployment rate decreased to about 3%. c. Real GDP decreased by about 30% and the unemployment rate increased to about 25%. d. Both Real GDP and the unemployment dropped significantly.
A major difference between tariffs and import quotas is that
a. tariffs create deadweight losses, but import quotas do not. b. tariffs help domestic consumers, and import quotas help domestic producers. c. tariffs raise revenue for the government, but import quotas create surplus for those who get the licenses to import. d. All of the above are correct.
Which form of intellectual property protects an auto manufacturer's new radio that recognizes your voice and plays your favorite songs?
A. Trademark B. Copymark C. Copyright D. Patent
? A country would tend to experience currency appreciation relative to other countries if:
a. the profitability of investments within the country increases relative to the rest of the world. b. people in the foreign currency markets expect the value of the currency to rise in the near future. c. the foreign demand for its exports increases. d. all of the above