In an auction, ________
A) buyers set the price of a good
B) the seller sets the price of a good
C) the government sets the price of a good below its market price
D) the government sets the price of a good above its market price
A
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When new firms choose to enter monopolistically competitive markets: a. there must be little diversity of products in the market
b. they are guaranteed economic profits upon entry. c. some firms in the market must be making economic profits. d. the demand curve faced by an established firm will shift to the right as a result.
Suppose a Japanese investor purchases a dollar deposit that yields 5 percent interest at the end of a year. What will be the approximate return in terms of yen at maturity if the exchange rate moves from $1 = ¥100 to $1 = ¥105 during the year?
a. 1 percent b. 5 percent c. 10 percent d. 20 percent e. 0 percent