Over the last 50 years, poverty has been:
A. falling, and inequality has been rising.
B. falling, and inequality has been falling as well.
C. rising, and inequality has been rising as well.
D. rising, and inequality has been falling.
A. falling, and inequality has been rising.
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When U.S. computer companies hire workers in India to staff their customer service call centers, they are engaging in
A) predatory pricing. B) unfair trade practices. C) outsourcing. D) labor engagement.
If a permanent drop in demand causes a monopolist to earn below-normal profits in the long run, this monopolist
a. will always exit the market in the long run b. will be forced by the government to continue operating in the long run c. may continue operating in order to avoid alienating its customers d. will exit the market in the long run only if it cannot cover its fixed costs e. will use limit pricing to reduce the size of its loss
Which statement is true?
A. Since the monopolist is the only firm in the industry, its profit is calculated differently from the way a perfect competitor would calculate profit. B. The monopolist's demand curve and marginal revenue curve are the same line. C. In the long run under monopoly, the most efficient output is the most profitable output. D. A monopolist may lose money in the short-run.
One of the elements of monopolization is
A) having a superior product or having a superior business acumen.. B) the possession of monopoly power in the relevant market. C) when only one firm exists in an industry. D) having a significant pricing power due to an accident in the relevant market.