In which of the following markets did deregulation contribute to increased industry concentration?
A. Railroads.
B. Airlines.
C. Trucking.
D. Cable TV.
Answer: B
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Free riding often results than less than the optimal quantity of a good being produced
Indicate whether the statement is true or false
Monopolies tend to
A) hire more labor than duopolists or competitive firms, hence they are inefficient. B) hire more labor than competitive firms but less than duopolists. C) hire less labor than competitive firms because they produce at an inefficient level. D) hire more labor because they produce at an inefficient level.
The Millennium Development Goals adopted by the United Nations included environmental criteria.
Answer the following statement true (T) or false (F)
If the economy moves upward along its short-run Phillips curve, in the AS-AD diagram, this movement is shown by a
A) rightward shift of the AS curve and a movement along the AD curve. B) movement downward along the AS curve as a result of a leftward shift of the AD curve. C) movement upward along the AS curve as a result of a rightward shift of the AD curve. D) leftward shift of the AS curve and a movement along the AD curve. E) rightward shift of potential GDP.