In a perfectly competitive market:
A. there are a few buyers.
B.there is a cartel.
C. no single buyer or seller can significantly affect the market price.
D.there is a single seller.
C. no single buyer or seller can significantly affect the market price.
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You read a story in the newspaper announcing the proposed merger of Dell Computer and Gateway. The merger is expected to greatly increase Gateway's profitability. If you decide to invest in Gateway stock, you can expect to earn
A) above average returns since you will share in the higher profits. B) above average returns since your stock price will definitely appreciate as higher profits are earned. C) below average returns since computer makers have low profit rates. D) a normal return since stock prices adjust to reflect expected changes in profitability almost immediately.
Which of the following is assumed to be constant in the quantity theory of money?
a. The money supply b. Real GDP c. The price level d. The velocity of money e. Nominal GDP