A firm that can determine the price-output combination in order to maximize profit is known as a
A. demand searcher.
B. price searcher.
C. cost taker.
D. price taker.
Answer: B
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A small country is an international borrower and its domestic demand for loanable funds increases. Consequently, the equilibrium quantity of loanable funds used in the country ________ and the country's international borrowing ________
A) does not change; increases B) does not change; does not change C) increases; increases D) increases; does not change
At the time the _________ was passed, the ratio of total earnings for African American men was 62% of their white counterparts. Today the gap is smaller, although it still has not closed.
a. Fair Labor Standards Act of 1938 b. Civil Rights Act of 1964 c. Taft-Hartley Act of 1947 d. National Labor-Management Relations Act of 1935
This year, Tyrone earned a total of $9,000 . As a result, he received $9,000 less in government transfers. Therefore, his implicit marginal tax rate is
a. zero. b. 25 percent. c. 50 percent. d. 100 percent.
The entry of new firms into a competitive industry will very likel
a. shift the short run industry supply curve to the right b. cause the market price to fall c. reduce the profits of firms in the industry d. cause the market quantity sold to rise e. all of the above