Which of the following are examples of perfectly competitive markets?
a. market for wheat
b. market for oil
c. market for stocks
d. all of the above are examples of perfectly competitive markets
d
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Which of the following formulas would you use to calculate the nominal wage rate?
A) nominal wage rate = real wage rate × CPI B) nominal wage rate = (real wage rate × CPI) × 100 C) nominal wage rate = (real wage rate × CPI) ÷ 100 D) nominal wage rate = (real wage rate ÷ CPI) × 100 E) nominal wage rate = real wage rate ÷ CPI
If the U.S. capital and financial account balance has a $30 million surplus and there was no change in official reserves during that year, we know that
A) the United States has a $30 million current account deficit. B) U.S. official reserves have increased by $30 million. C) the United States is a net lender. D) U.S. net foreign lending must equal $30 million. E) the United States has a $30 million current account surplus.