Based on the graphic for perfect competition versus monopoly, the welfare for perfect competition is ______ the welfare for monopoly.
a. greater than
b. less than
c. equal to
d. the opposite of
a. greater than
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According to Scenario 4-1, country C has net exports of:
a. zero. b. $13 million. c. $6 million. d. ?$13 million. e. ?$6 million.
During the last two centuries, after adjustment for inflation,
A) both corporate stocks and bonds have yielded an average annual real rate of return of about 3 percent. B) corporate stocks have yielded an average annual real return of approximately 7 percent, compared to an average real return of about 3 percent for bonds. C) corporate bonds have yielded an average annual real return of approximately 7 percent, compared to an average real return of about 3 percent for corporate stocks. D) both corporate stocks and bonds have yielded an average annual real rate of return of about 7 percent.
The slope of a production possibilities curve is ________ because ________.
A. positive; producing more of one good requires producing less of the other B. positive; producing more of one good requires producing more of the other C. negative; producing less of one good requires producing less of the other D. negative; producing more of one good requires producing less of the other
?
In Exhibit 3-7, if price happened to currently be $25 in this market, a _______ would result, causing a _______ in price.
A. shortage; increase B. shortage; decrease C. surplus; increase D. surplus; decrease