The maximum amount of a good that may be imported during a specified period of time is
A) an infant industry agreement.
B) an import quota.
C) dumping.
D) comparative advantage.
B
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Mean reversion refers to the fact that
A) small firms have higher than average returns. B) stocks that have had low returns in the past are more likely to do well in the future. C) stock returns are high during the month of January. D) stock prices fluctuate more than is justified by fundamentals.
The above figure shows the demand and cost curves facing a monopoly. If the firm is a profit maximizer, its Lerner Index will equal
A) 1. B) 1/3. C) 1.5. D) 3.
Which of the following cause the aggregate demand curve to slope downward and to the right?
A. the demand-shock effect B. military expenditures of the government C. the prices of key goods D. the interest rate effect
Economic profits are equal to
A. total revenues, after tax, minus cost of goods sold. B. total revenues minus the implicit and explicit costs of all inputs used. C. total revenues minus the opportunity cost of labor. D. total revenues minus total fixed costs.