The above figure shows the situation of a monopolistic competitor in the short run. The maximum ...

The above figure shows the situation of a monopolistic competitor in the short run. The maximum economic profits of the firm equal
 
  A) 50,000.
  B) 30,000.
  C) 15,000.
  D) zero.

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Ques. 2

Under present U.S. federal law, which one of the following is a government-inhibited good?
 
  A) housing
  B) medical care
  C) marijuana
  D) education

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Ques. 3

The City Council of Happy Village is thinking about imposing rent controls. If they put rent controls in place, which constituency are they trying to please?
 
  A) landlords
  B) all taxpayers
  C) existing tenants
  D) all voters

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Ques. 4

Portfolio investment means the
 
  A) purchase of less than 20 percent of the shares of ownership in a company in another country.
  B) purchase of less than 50 percent of the shares of ownership in a company in another country.
  C) purchase of less than 80 percent of the shares of ownership in a company in another country.
  D) purchase of less than 10 percent of the shares of ownership in a company in another country.

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Ques. 5

Explain what will happen to the production possibilities curve over time if society gives up some consumption goods in favor of more capital goods.
 
  What will be an ideal response?

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Ques. 6

A medium of exchange is
 
  A) any asset that sellers will accept as payment.
  B) a measure by which prices are expressed.
  C) an asset that is used to settle future debts.
  D) the thing traded when barter takes place.

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Ques. 7

The relationship between the number of hours a student studies for an exam and the exam grade is most likely graphed as
 
  A) a line sloping down from upper right to lower left.
  B) a line sloping down from upper left to lower right.
  C) a line sloping up from lower left to upper right.
  D) a line sloping up from lower right to upper left.