Many economists agree that government rate setting for monopolies ______.
a. removes the influence of special interest groups
b. can become very political
c. is an objective approach
d. maximizes incentive for the firms
b. can become very political
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Selling costs, such as advertising, are likely to be a large share of total cost in an industry that is
A) perfectly competitive. B) monopolistically competitive. C) a monopoly. D) non-profit.
Using a credit card creates a financial:
A. liability for the person using it and a financial asset for the issuer. B. asset for the person using it and a financial liability for the issuer. C. asset for both the person using it and issuer. D. liability for both the person using it and issuer.
The earnings of most people
A. increase with age until around age 60 due to increased experience, training, and hours worked, then level off as hours worked levels off. B. increase with age until around age 40 due to increased experience and hours worked. C. increase steadily until retirement. D. increase with age until around age 50 due to increased experience, training, and hours worked.
The two main sources of household income are wages/salaries and property income.
Answer the following statement true (T) or false (F)