Which of the following would economic freedom lead to?
a. A higher standard of living
b. Better living conditions
c. Longer life expectancy
d. Better education
e. All of these
e
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In reference to worldwide competition laws, each of the following are fundamentally prohibited or highly suspicious among regulators across almost all countries except which one?
A) creation of cartels B) charging unfairly high prices C) dominant firms D) monopolies
The labor supply curve:
A. shows the relationship between the total quantity of labor supplied by all firms in the economy and the wage rate. B. shows that, all things being equal, more workers will want to work when wages are higher and less will want to work when wages are lower. C. has a negative slope. D. All of these are true.
A supply curve can be used to measure producer surplus because it reflects
a. the actions of sellers. b. quantity supplied. c. sellers' costs. d. the amount that will be purchased by consumers in the market.
Refer to the graph shown. If this monopolist were forced to set price equal to average total cost, it would charge a price of:
A. $0.90. B. $0.30. C. $0.75. D. $0.15.