The majority of the members of the U.S. Congress want to retain the so-called Fairness Doctrine as a control over television and radio broadcasters because
A) competition by itself cannot produce fairness.
B) government oversight is required to assure equal time for conflicting points of view.
C) television and radio are local monopolies to a large extent.
D) the air waves belong to the public.
E) the doctrine gives more power and influence to members of Congress.
E
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Negative externalities impose most of their costs:
a. directly on consumers of polluting processes. b. whenever individual health is harmed in the production process. c. only in large cities. d. on individuals other than consumers of the polluting product.
Describe the types of entry barriers that can exist and their importance to the study of monopoly.
What will be an ideal response?
Since 1950, the standard of living in the United States has:
A. decreased when measured by both total output and output per person. B. increased when measured by both total output and output per person. C. increased when measured by output per person, but decreased when measured by total output. D. decreased when measured by output per person, but increased when measured by total output.
Adjustments in ________ take the economy from the short-run equilibrium to the long-run equilibrium.
A. imports and exports B. interest rates C. wages and prices D. the multiplier