The ability to keep rivals out of the market is the recipe for creating and maintaining a monopoly.
Answer the following statement true (T) or false (F)
True
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Suppose technological improvements reduced the cost of producing automobiles by 50 percent, causing the price of automobiles to decline by a similar amount. Which of the following would necessarily result from this development?
a. Employment in the automobile industry would decrease. b. Real income would increase. c. Real income would decrease. d. Both a and c are correct.
In the foreign exchange market, a balance of payments surplus is represented by:
A) excess supply of dollars. B) excess demand for dollars. C) equilibrium in the foreign exchange market. D) none of the above.
Which of the following actions by Representative Morgan would constitute logrolling?
a. defying his party and voting with the other side on major pieces of legislation b. refusing to vote on an issue until more information is available c. voting only for proposals that are popular with the voters in his district d. voting for alcohol sales expansion in exchange for a vote to lower speed limits
If U.S. prices increase relative to the rest of the world, we would expect:
A. net exports to increase. B. net exports to decrease. C. net exports to be unaffected. D. government spending to increase.