Natural monopolies are monopolies that are based on
A. patents.
B. control over a strategic natural resource.
C. extensive economies of scale in production.
D. copyrights.
C. extensive economies of scale in production.
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All of the following are common to banking crises in different countries EXCEPT
A) financial liberalization or innovation. B) weak bank regulatory systems. C) a government safety net. D) a dual banking system.
Describe the differences between the growth rates of real personal consumption and real gross private investment in the United States
What will be an ideal response?
Nations trade what they produce in excess of their own consumption to:
a. generate jobs for the domestic economy. b. earn "good will" from the World Bank. c. prevent chronic surpluses from driving down domestic prices. d. acquire other things they want to consume. e. reduce the size of their foreign trade deficit.
The economic theory of discrimination suggests that the practice of apartheid in South Africa should have
A. worsened the economic condition of only the blacks. B. worsened the economic condition of only the whites. C. worsened the economic condition of blacks, whites, and others. D. improved the economic condition of the whites.