Market demand schedule
What will be an ideal response?
shows the quantities demanded at various prices by all consumers in the market.
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A higher saving rate will promote capital deepening
Indicate whether the statement is true or false
The unemployment rate is at the natural unemployment rate when
A) frictional unemployment equals zero. B) structural unemployment equals zero. C) cyclical unemployment equals zero. D) all types of unemployment equal zero.
Assume that the world price of Commodity X is $9 per unit while its domestic price is $8, and the marginal cost of production is $6 per unit. If the government imposes a price ceiling of $7 on domestic output:
a. the import of Commodity X from the world market would stop. b. the world price of Commodity X would decline. c. a surplus of Commodity X would accumulate in the domestic market. d. a shortage of Commodity X would be observed in the domestic market.
According to the text, which of the following is a principal reason why firms merge?
a. to form a cartel b. to exercise greater market control c. to increase their product differentiation d. to decrease their product differentiation e. to become a monopoly