When the government makes a firm the exclusive legal provider of a good or service, it grants the firm
A) a copyright.
B) a network externality.
C) a quota.
D) a public franchise.
Answer: D
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In the current Post-Industrial economy, international trade in services (including banking and financial services)
A) dominates world trade. B) does not exist. C) is an increasingly important component of global trade. D) is relatively stagnant. E) far surpasses the predictions of economist Alan Blinder.
The Economic Report of the President gives the following age distribution of the United States population for the year 2000:
United States Population By Age Group, 2000 Outcome (age category Under 5 5-15 16-19 20-24 25-44 45-64 65 and over Percentage 0.06 0.16 0.06 0.07 0.30 0.22 0.13 Imagine that every person was assigned a unique number between 1 and 275,372,000 (the total population in 2000). If you generated a random number, what would be the probability that you had drawn someone older than 65 or under 16? Treating the percentages as probabilities, write down the cumulative probability distribution. What is the probability of drawing someone who is 24 years or younger? What will be an ideal response?
Refer to the list. As distinct from the demand and efficiency factors of economic growth, the supply factors of economic growth are:
Use the list below to answer the following question: 1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production. 5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources. A. 2, 5, and 6 only. B. 2, 4, 5, and 6 only. C. 1, 2, 5, and 6 only. D. 1, 3, and 4 only.
Firms face downward sloping demand curves in
A) monopolies only. B) monopolies and oligopolies only. C) monopolies and oligopolies that collude only. D) all market structures except perfect competition.