If the capital stock increases, then the economy can produce ____ output with the ____ amount of labor
a. same, same
b. less, same
c. more, same
d. less, less
c
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A typical firm in a cartel will hold which of the following attitudes?
A) If everyone cheats, I'm better off, and so is everyone in the cartel. B) If I alone cheat, I'm better off; if everyone cheats, I'm worse off. C) I can never do better for myself than following agreed-upon cartel rules. D) If I suspect others are planning to cheat, I'll do best for myself by deciding not to cheat.
Some argue the best response to monopolies is no response at all because:
A. the creation of regulation may be too difficult. B. political mishandling may make the situation even worse. C. the regulation of monopolies may not be able to be managed effectively. D. All of these statements are true.
Refer to the information provided in Table 22.6 below to answer the question(s) that follow.
Table 22.6
Refer to Table 22.6. If 2015 is the base year, the price index in 2016 is
A. 86.1. B. 87.8. C. 112.2. D. 113.9.
The level of an economic activity should be increased to the point where
a. Marginal benefits equal to zero b. Marginal costs of the investment are less than marginal benefits of the investment c. Marginal benefits are greater than marginal costs d. Marginal costs are equal to marginal benefits