An economy with production function Y = F(K) = that has 400 units of capital will produce _____ units of output.
A. 1,600
B. 40
C. 400
D. 20
Answer: D. 20
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Identify the characteristics of a monopoly firm
a. The existence of barriers to entry and production of a homogeneous product b. The production of a unique product and a large number of sellers in the market c. The production of a standardized product and the firm is a price taker d. The existence of barriers to entry and the firm is a price taker e. The existence of barriers to entry and the firm is a price maker
Ceteris paribus, an increase in the supply of a good causes which of the following?
a. lowers the equilibrium price, and reduces the quantity bought and sold b. raises the equilibrium price, and raises the quantity bought and sold c. raises the equilibrium price, and increases the quantity bought and sold d. lowers the equilibrium price, and increases the quantity bought and sold e. equilibrium price and equilibrium quantity change are indeterminate
As a result of the Great Recession, job growth did not resume until
a. September 2008 b. March 2009 c. September 2009 d. March 2010
The largest mutual fund, as of March 2013, held approximately _____ billion in assets under management
A. $75 B. $90 C. $130 D. $180