The fundamental source of monopoly power is
a. barriers to entry.
b. profit.
c. decreasing average total cost.
d. a product without close substitutes.
a
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Which of the following is true of exchange?
a. Exchange is a zero sum activity; if one party gains, the other must lose an equal amount. b. The exchange value of a good is determined by the cost of the resources required to produce the good. c. The total output that trading partners are able to produce is not influenced by whether they trade with each other. d. Exchange permits trading partners to expand their total output of goods and services as the result of greater specialization in areas where each has a comparative advantage.
Other nations had tried economic union in the past, and since adopting a common currency had shown economic benefits for them, the nations of Europe decided to try it too
Indicate whether the statement is true or false
The saving schedule is drawn on the assumption that as income increases:
A. saving will decline absolutely and as a percentage of income. B. saving will increase absolutely but remain constant as a percentage of income. C. saving will increase absolutely but decline as a percentage of income. D. saving will increase absolutely and as a percentage of income.
Index funds:
A. are passively managed. B. are actively managed. C. may be either passively or actively managed. D. are neither passively nor actively managed.