Which of the following statements best describes the role of competitive firms within an economy?
a. Smaller economies often have fewer competitive firms making goods within their economy, and thus firms have less pressure from other firms to provide the goods and prices that consumers want.
b. Smaller economies often have fewer competitive firms making goods within their economy, and thus firms have more pressure from other firms to provide the goods and prices that consumers want.
c. Larger economies often have fewer competitive firms making goods within their economy, and thus firms have less pressure from other firms to provide the goods and prices that consumers want.
d. Larger economies often have fewer competitive firms making goods within their economy, and thus firms have more pressure from other firms to provide the goods and prices that consumers want.
a. Smaller economies often have fewer competitive firms making goods within their economy, and thus firms have less pressure from other firms to provide the goods and prices that consumers want.
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Of the following, which is the most accurate indicator of the degree of inequality?
A) distribution of annual income B) distribution of lifetime income C) distribution of wealth D) distribution of the sum of wealth and annual income
List four types of tax-deferred saving vehicles. How could tax-deferred saving vehicles, if modified, transform the U.S. income tax into a consumption tax?
What will be an ideal response?
A country has an absolute advantage over another in the production of widgets if it can produce
a. widgets using smaller quantities of resources than can the other country. b. more widgets than can the other country. c. widgets more efficiently than can the other country. d. widgets at a lower opportunity cost than can the other country.
The minimum point of the average total cost curve is called the efficient scale
a. True b. False Indicate whether the statement is true or false