Which of the following statements applies to a purely competitive producer?

A) It will not advertise its product.
B) In long-run equilibrium it will earn an economic profit.
C) Its product will have a brand name.
D) Its product is slightly different from those of its competitors.

The short-run Phillips curve is based upon labor contracts that reflect a given expected _____.

A) price level
B) unemployment level
C) money supply
D) aggregate demand
E) unemployment rate

Refer to Figure 15.3. Gwen's Country Curtains is currently manufacturing and selling 1,000 pairs of curtains per month. The ________ for this company is $80,000.

A) total cost
B) profit
C) total revenue
D) fixed cost

A job in which a whole piece of work is done from beginning to end is said to be high in ________.

Under Scenario 18.1, suppose the body of water lies on an international boundary, and the fishermen speak a different language than the factory managers. The efficient outcome cannot be achieved if the cost of hiring translators for both parties:

A) is less than $4,000.
B) equals $5,000.
C) is greater than $6,000.
D) none of the above

Which of the following can be considered as a netiquette?

A) Using all-capitals to emphasize the subject line.
B) Sending cards,rather than emails,to express appreciation for hospitality.
C) Sending people messages containing all the information you think is necessary.
D) Sending angry messages by email in order to restrict face-to-face conflicts.