Being on the PPF implies that increasing the production of one good or service can only be accomplished by decreasing the quantity produced of another good or service
a. True
b. False
Indicate whether the statement is true or false
True
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A bank is an example of a financial intermediary
a. True b. False Indicate whether the statement is true or false
If the price of new automobiles rises in the U.S. market while prices remain unchanged in foreign markets,
a. foreign firms will want to export fewer automobiles to the United States b. foreign firms will want to export more automobiles to the United States c. foreign firms will not change their exports to the United States since it is a different market d. U.S. firms will want to export more automobiles to foreign markets e. U.S. firms will not change their exports to foreign markets unless foreign prices also change
Using a graph, explain how an increase in technology will affect the equilibrium price and quantity of DVD players. Again using a graph, explain what happens in the market for video cassette recorders.
What will be an ideal response?
An industry having a four-firm concentration ratio of 85 percent:
A. approximates pure competition. B. is monopolistically competitive. C. is a pure monopoly. D. is an oligopoly.