For market efficiency, MSC must be equated to MSB.
A. True
B. False
C. Uncertain
A. True
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One requirement for an industry to be perfectly competitive is that
A) there are no restrictions on entry into or exit from the market. B) there are multiple restrictions on entry into or exit from the market. C) there are many firms selling different products. D) sellers and buyers have imperfect information about prices. E) the many firms sell slightly different products.
In April 2010, you needed about ________ euro to get $1.00.
Fill in the blank(s) with the appropriate word(s).
The main reason barter is extremely inefficient is that:
A. you have to find someone who both has what you want and wants what you have. B. it can have very high transactions costs associated with it. C. people and firms have to spend a lot of time looking for mutually agreeable trades. D. All of these are true.
The price index that measures the cost of a basket of goods and services bought by firms is called the
a. industrial price index. b. producer price index. c. core price index. d. GDP deflator.