Competition exists among sellers only if they
A) all set price equal to marginal cost.
B) are price takers.
C) are so numerous that no one of them can affect the price by restricting output.
D) receive no special privileges from government.
E) struggle to satisfy potential buyers.
E
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While moving on the production possibilities frontier, if the opportunity cost of producing one good is 1/2, the opportunity cost of producing the other good (in the same range) is
A) 1/2. B) 1/4. C) 2. D) 4. E) An amount that cannot be calculated without more information.
What structures make up the international capital markets?
A) stock market, IFM, and the World bank B) bond market, foreign exchange rates, IFM, and the World bank C) commercial banks, corporations, non-bank financial institutions, the central banks, and other government agencies D) commercial banks and corporations E) the central banks and non-bank financial institutions