The size of the underground economy as a percent of GDP is larger in the United States as compared to poorer countries such as Zimbabwe
Indicate whether the statement is true or false
FALSE
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What is the primary reason for the differences between the U.S. banking system and those in other major industrial countries?
A) Economies of scale are greater in banking in the United States than in banking in other countries. B) legislation that led to the development of state and national banks C) the Federal Reserve System D) the National Bank
Competing broadcasting networks are motivated to choose socially optimal programs
Indicate whether the statement is true or false
Network effects result from
A) entry barriers. B) economies of scale. C) standardization. D) none of these choices.
If the more-is-better principle holds, two different consumption bundles can't be equally attractive unless:
A. they contain the same amounts of each good. B. the consumer is unable to rank both bundles. C. as the consumer gives up some of one good, the consumer is given more of the other good. D. they each cost the same amount to purchase.