A perfectly competitive firm can:
A. affect the market price for its good.
B. sell as much as it can produce at the market price.
C. prevent entry of other firms into their market.
D. collude with its competitors to set prices.
Answer: B
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When Dale visits the doctor, Dale does not pay for either the visit or any tests the doctor may order. From this we can infer that Dale must:
A. have first-dollar medical insurance coverage. B. have a medical insurance policy with a deductible. C. be underutilizing medical care. D. be a member of an HMO.
Which of the following statements is CORRECT?
A) When workers become more productive, the demand for labor curve shifts rightward. B) When technology decreases, the supply of labor curve shifts leftward. C) When labor force participation increases, the supply of labor curve shifts leftward. D) When human capital increases, the demand for labor curve shifts leftward.
The guidelines for whether or not to include an additional variable include all of the following, with the exception of
A) providing "full disclosure" representative tabulations of the results. B) testing whether additional questionable variables have nonzero coefficients. C) determining whether it can be measured in the population of interest. D) being specific about the coefficient or coefficients of interest.
If the marginal propensity to consume in a country is 0.6, then a $4,000 decrease in taxes will lead to a _____ in real GDP
a. $4,000 decrease b. $6,000 increase c. $4,000 increase d. $6,000 decrease