Which of the following statements concerning perfect competition is not true?
a. Firms are price takers.
b. The demand curve facing an individual firm is horizontal.
c. A firm's demand curve is identical to its marginal revenue curve.
d. The firms produce differentiated products.
e. If a firm raises its price, it will lose all of its customers.
d
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If a nation changes its laws to more actively enforce intellectual property rights, all of the following will most likely take place except
A) more film makers will choose to do business in that country. B) more software companies will choose to export their products to that country. C) foreign investment in that country will increase. D) the black market for intellectual property will become more prosperous in that country.
Does a tax on sellers affect the supply curve?
A. Yes, it shifts to the left by the amount of the tax.
B. Yes, it shifts to the right by the amount of the tax.
C. Yes, it shifts up by the amount of the tax.
D. No, there is change in the quantity supplied, but the supply curve does not move.
Compared to most other industrialized nations, the United States has greater income inequality
a. True b. False Indicate whether the statement is true or false
Assuming the free flow of capital across borders, which of the following statements is most correct?
A. A central bank cannot have both a fixed exchange rate and an independent inflation policy. B. The central banks of most industrialized countries focus on fixed exchange rates. C. While most central banks of industrialized countries favor fixing exchange rates, their primary concern is on domestic inflation. D. A central bank can have both a fixed exchange rate and an independent inflation policy.