Industries may be oligopolistic due to barriers to entry.
Answer the following statement true (T) or false (F)
True
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Which of the following are devices that the government uses to achieve a more efficient allocation of resources in the presence of external benefits?
A) taxes, private subsidies, and regulation B) public provision, taxes, and private subsidies C) regulations, public provision, and vouchers D) vouchers, public provision, and private subsidies E) public provision, taxes, and vouchers
In order to support an undervalued euro, the European Central Bank must ________ dollars. Over time, this action will cause the rate of inflation in the EU to ________
A) buy; increase B) sell; increase C) buy; decrease D) sell; decrease
If a factory has an equal number of male and female employees, and all the male workers are more productive and are paid more than all the female workers, what does this most likely imply?
a. The wages are based on gender discrimination and sexism. b. The males all work harder than the females. c. Environmental factors have allowed the males to acquire more skills. d. Too many barriers are in place preventing females from being hired.
If the price per barrel of Crude decreases in the international market, then this event would most likely:
a. Increase aggregate demand in the United States b. Increase aggregate supply in the United States c. Decrease aggregate supply in the United States d. Decrease aggregate demand