ISI policies increased competition and lowered prices in most economies
Indicate whether the statement is true or false
FALSE
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When economists use the terms "supply" and "demand," they are referring to
A) the roles economists must take to improve the economy. B) the plans and ongoing negotiations among individual traders in the market process. C) the ways people meet their needs in society. D) the supply of money and the demand for money. E) the supply of laws and the demand for laws in a well-governed society.
Which of the following is NOT a characteristic of an increasing cost competitive industry? As the industry expands in the long run,
A. the number of firms increase. B. the price of product remains constant. C. the prices of some inputs rise. D. the cost of production increases. E. none of the above
Which of the following is a time deposit with a fixed maturity date offered by banks and other financial institutions?
A. time deposit B. savings deposit C. money market deposit account D. small-denomination certificate of deposit
If a firm shuts down, it
A) will suffer a loss equal to its fixed costs. B) will produce nothing but must pay its variable costs. C) will produce nothing but must pay its fixed and variable costs. D) will earn enough revenue to cover its variable costs but not all of its fixed costs.