Monopolization is a process by which the government restricts the growth of monopoly firms
a. True
b. False
Indicate whether the statement is true or false
False
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Economists assume the principal motivation of producers is
A. Psychological gratification. B. Profit. C. Social status. D. Their preference for being "their own person."
Linda earned an income of $3,000 per month which has now increased to $3,500 per month. She saves 10 percent and spends the remainder on food, lodging and other expenses. So far, she has managed to save $20,000. What is her disposable income after the increase?
What will be an ideal response?
Encouraging international trade will
A) slow economic growth as many workers lose their jobs to foreign workers. B) speed economic growth as workers specialize and trade with others. C) speed economic growth because international trade limits the harm done by property rights. D) slow economic growth when a country is forced to specialize and trade with other countries. E) speed economic growth as workers diversify their knowledge and limit trade.
As a means of motivating research and development, a patent may stimulate either too much or too little research, relative to the socially optimal level
Indicate whether the statement is true or false