Dumping occurs when a foreign monopolist charges ______ price in the domestic market than/as in a foreign market.
a. a lower
b. a higher
c. the same
d. an equivalent
Ans: a. a lower
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National output and national income are essentially the same because
A) every purchase implies a sale. B) every cost implies a benefit. C) every profit implies a loss. D) every gain implies a sacrifice.
The closer a market's Herfindahl-Hirschman Index (HHI) is to ________ the less competitive the market, which means there are ________ firms in the market.
A) 100; many B) 10,000; many C) 10,000; few D) 100; few
Which of the following is not the result of wage stickiness in an economic downturn?
A. Actual wages are temporarily above the market-clearing level. B. Cyclical unemployment. C. A surplus of labor. D. A shortage of labor.
Partners usually draw up legal papers called articles of partnership
What will be an ideal response?