Which of the following is true about the demand curve for a monopolistically competitive firm??
A. ?It is less elastic (steeper) than for monopoly, but more elastic (flatter) than for a perfectly competitive firm.
B. ?It is less elastic (steeper) than the demand curve for either a monopoly firm or a perfectly competitive firm.
C. ?It is more elastic (flatter) than the demand curves for either a monopoly firm or a perfectly competitive firm.
D. ?It is less elastic (steeper) than for a perfectly competitive firm, but more elastic (flatter) than for a monopoly firm.
Answer: D
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The costs of labor and land used to produce a product is
A) administrative costs. B) costs of goods sold. C) net profit plus the cost of capital. D) none of these choices.
If debit cards become more widely used by consumers and businesses, which of the following is most likely to happen?
a. Currency holdings will remain the same, but the M1 money supply will fall. b. The amount of currency held by the public will increase. c. Less money will be held as currency and more money will be held in bank accounts, which will increase the reserves of banks unless the Fed takes offsetting actions. d. The money supply will be unaffected because debit card expenditures are considered the equivalent of cash.
Which of the following would increase a country's Economic Freedom of the World rating?
What will be an ideal response?
The American Federation of Labor was formed in 1886 as a dissident group from the
A) Knights of Labor. B) Knights of Pythias. C) Masonic Lodge. D) Knights of Columbus.