Opportunity cost is the best alternative sacrificed for a chosen alternative
a. True
b. False
Indicate whether the statement is true or false
True
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Costly actions that a firm undertakes to gain monopoly status are called
a. monopolization. b. rent-seeking activity. c. monopoly-profit seeking. d. collusion.
Once active discrimination ends, it:
A. is quickly forgotten, and efficiency is reached. B. no longer affects people or markets. C. can have long-lasting effects on people and markets. D. None of these is true.
The multiplier is the ratio of the
a) change in real GDP to the change in autonomous expenditures b) equilibrium level of real GDP to the change in induced expenditures c) change in induced expenditures to the change in autonomous expenditures d) change in autonomous expenditures to the change in real GDP
Which of the following is issued to an investor to provide protection from having the invention copied or stolen for 20 years?
A. a license B. a certificate of convenience C. a patent D. a natural monopoly