When many residents own automobiles that can handicap urban transportation services
Indicate whether the statement is true or false
T Private individuals who own automobiles can travel at marginal cost, whereas if it has no government support an urban transit system must charge customers its average cost, which is likely to be higher than auto owners' marginal costs.
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Double markup problems arise when
a. upstream firms have no market power b. downstream firms have no market power c. upstream and downstream products are unrelated in demand d. upstream and downstream firm's pricing decisions tend to decrease the demand for the other product
Which statement is true?
A. Frederic Bastiat's "Petition of the Candlemakers to Shut Out the Sun" was a plea for free trade. B. Frederic Bastiat's "Petition of the Candlemakers to Shut Out the Sun" was a plea for protection. C. Dollars are used for all international transactions. D. None of these statements are true.
Exploiting a nonrenewable natural resource is likely to:
A. create more productive workers in all facets of the economy. B. lead to a sustainable high rate of growth in income for a country. C. lead to a higher level of income for a country. D. All of these are true.
What has caused persistent inflation in the United States?
A. a decrease in labor productivity B. The nation's long-run aggregate supply curve has shifted to the left. C. supply-side inflation D. none of these