The problems posed by special interests are unaffected by fiscal federalism
a. True b. False
b
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Using the data in the table above, what is the value of GDP?
A) $13,516 billion B) $10,679 billion C) $9,541 billion D) $8,403 billion
Which of the following market models results in the highest level of consumer surplus, assuming a fixed number of firms with identical costs and a given demand curve?
A) Cournot B) Stackelberg C) Monopoly D) Cartel
The demand curve faced by a monopolist is the same as the marginal revenue curve
a. True b. False Indicate whether the statement is true or false
Whenever net external benefits exist then:
A.) economic profits are zero. B.) the social demand exceeds the market demand. C.) the benefits associated with a product fall short of those accruing to the market. D.) product differentiation increases the variety of products available to consumers.