An insecure monopoly will lose more of its profit preventing other firms from entering when:
A. the zero profit quantity is large.
B. the minimum entry quantity is small.
C. the minimum entry quantity is large.
D. the number of potential entrants is large.
Answer: A
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Which of the following will not affect the size of a nation's physical or human capital stock?
a. A new factory is constructed b. A new machine is installed in company's plant. c. An eighteen-year-old enrolls in college as a full-time student. d. All of the above affect the size of a nation's capital stock.
Which of the following is characteristic of a buyer's market:
A. High demand B. Steady demand C. Low supply D. Low prices
When we calculate GDP, government spending on goods and services makes up approximately
A. One-fifth of total output. B. One-tenth of total output. C. One-half of total output. D. One-third of total output.
Suppose the CPI in 1990 is 500, with 1967 as the base year. On average, how much money must be spent in 1990 to purchase the same quantity of goods and services that could have been bought with $10 in 1967?
A. $50 B. $5 C. $400 D. $500