Which of the following economies have the highest degree of economic freedom?
What will be an ideal response?
Hong Kong and Singapore
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The solution in the prisoner's dilemma is called the
a. loss minimizing solution b. profit maximizing equilibrium c. dominant-strategy equilibrium d. revenue maximizing equilibrium e. marginal revenue solution
Total producer surplus is measured by the total area under the equilibrium price and below the supply curve
a. True b. False Indicate whether the statement is true or false
If a country has a three percent growth rate, approximately how many years will it take for that country’s economy to double in size?
a. 33 years b. 24 years c. 20 years d. 18 years
Which one of the following is most likely to increase the Herfindahl index of a particular industry?
A. A conglomerate merger. B. A vertical merger. C. A price-fixing arrangement among all the industry firms. D. A horizontal merger.