Being a price taker essentially means
A) a firm can influence the market price.
B) a firm cannot influence the market price.
C) the firm cannot legally set its price above the market price.
D) the firm cannot legally set its price below the market price.
Answer: B
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Each additional unit of output produced by a unit of labor is valued at the price of the firm's output
a. always. b. when the firm is selling in a competitive market. c. when the firm has monopoly power in the market for its output. d. when the firm has monopsony power in the market for labor.
According to Marx, reason(s) for the inevitable collapse of capitalism is (are)
a. under production b. a lower capita labor ratio c. rising profits d. class conflict e. increasing surplus value
What arguments suggest that an unequal wealth distribution is not a problem? What arguments suggest that an unequal wealth distribution is a problem?
What will be an ideal response?
The monetary transmission mechanism that links monetary policy to GDP through real interest rates and investment spending is called the
A) traditional interest-rate channel. B) Tobins' q theory. C) wealth effects. D) cash flow channel.