If the government limits the number of firms in a market by issuing a limited number of licenses, the market structure is most likely to be:
A. a perfectly competitive market.
B. a monopoly.
C. a monopolistically competitive market.
D. an oligopoly.
Answer: D
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If a country has a fixed exchange rate,
A) the equilibrium exchange rate in that market does not respond to changes in supply and demand for currency. B) the exchange rate is allowed to fluctuate in response to changes in the supply and demand for currency. C) central banks have more control over real GDP in the economy. D) central banks must buy and sell their holdings of currencies to maintain a given exchange rate.
If incomes in the United States increase, other things equal, then U.S. _____
a. imports increase and exports remain constant b. exports increase and imports decrease c. imports decrease and exports decrease d. imports remain constant and exports increase e. net exports remains constant
A student taking economics, statistics, and finance has decided to spend 9 hours per week studying. The objective is to maximize the average grade, which means maximizing the total grade in the three courses. The table shows the student's estimate of the relation between time spent studying each course and the grade for each course.
Based on the above information, what is the maximum AVERAGE grade the student can earn if she studies 9 hours per week?
A. 82 B. 80.3 C. 80 D. 78.3
Assuming an interior solution, a production plan is profit maximizing if and only if all marginal revenue products are equal to input prices.
Answer the following statement true (T) or false (F)