Which of the following is not an intermediate good?
A. Tires purchased by Ford to put on their new Explorers.
B. Tires sold by Goodyear to put on your Explorer.
C. Tomatoes used by Ortega to make their salsa.
D. Beef purchased by McDonald’s to make a Big Mac.
B. Tires sold by Goodyear to put on your Explorer.
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Under what conditions might a monopoly be more efficient than a perfectly competitive firm?
What will be an ideal response?
Which of the following statements is true?
A) A higher wage can raise profits if productivity is directly proportional to wages. B) A higher wage can reduce the quantity supplied of labor. C) A higher wage can increase the quantity demanded of labor. D) A higher wage can raise profits if productivity of workers is fixed.
Which of the following acts prohibited false advertising?
a. Sherman Act b. Clayton Act c. Federal Trade Commission Act d. Celler-Kefauver Act
As an example of hyperinflation, one U.S. dollar was equal to _________ German marks in 1923, compared to 8.9 marks in 1919.
A. 1 trillion B. 1,000 C. 0.001 D. 1