Goods and services
Refer to the above data. Choose the right answer from following. Zabella's balance on goods and services illustrates a: A) $5 billion deficit. B) $5 billion surplus. C) $10 billion surplus. D) $15 billion deficit.
The Taft-Hartley Act prohibited strikes against a firm over the issue of which of the two or more competing unions would symbolize the firm’s employees. These strikes are termed as: (i) Jurisdictional strikes. (ii) Strategic representation strikes. (iii) Wildcat
The maximum valuable human capital on the given list would be possessed by the person who: (1) Inherited a big deal of money. (2) Invested big sums on stock market. (3) Had an advanced degree in the music education. (4) Specialized as the medical doctor.
A profit maximizing monopolist produces output where: (i) MR = MC as long as the corresponding price exceeds average variable costs [P>AVC]. (ii) marginal revenue minus marginal costs [MR - MC] is maximized. (iii) price minus average cost is maximi
Profit for purely competitive firms tends in the direction of zero in the long run since: (w) managers resist charging more than a fair price. (x) firms collude to charge prices which barely cover average costs. (y) profit attracts entry, whereas loss
During the long run, the labor supply curve facing a main industry: (w) will always be positively associated to the wage rate. (x) will slope upward only when individual labor supply curves slope upward. (y) can be backward bending at very high wage r
The view which big corporations unfailingly capture much stable shares of spending out of national income is: (i) Accepted by almost all the economists. (ii) Contrary to the confirmation of turnover among big over the decades. (iii) The symptom of strong competition.
All as well equivalent, consumers will buy more of a good per time period the lower its price. This is the statement of the law of: (i) Diminishing returns. (ii) Demand. (iii) Supply. (iv) Markets. Can someone please help me in fin
Assume that a new Wal-Mart is built just outside a small town, and also Wal-Mart aggressively cuts prices therefore much that the rivals close their doors. In that case, once its rivals exit the market, the Wal-Mart raises prices significantly. Wal-Ma
Defenders of the efficiency of monopolistic competition are mainly persuasive when they insist which: (w) consumers benefit greatly from product differentiation. (x) any inefficiency is far less harmful than that of pure monopoly. (y) pure competition
I have a problem in economics on Labor union and an unregulated public utility. Please help me in the following question. While comparing an influential labor union and an unregulated public utility firm like cable TV, both might: (1) Be considered as the monopolists.
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