According to the Mercantilists, governments should

A. not spend much on national defense.
B. allow for free trade unencumbered by government regulations and restrictions.
C. subsidize and encourage exports.
D. subsidize and encourage imports.


Answer: C

Economics

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The main difference between the price-quantity graph of a perfectly competitive firm and a monopoly is

A) that the competitive firm's demand curve is horizontal, while that of the monopoly is downward sloping. B) that a monopoly always earns an economic profit while a competitive company always earns only normal profit. C) that a monopoly maximizes its profit when marginal revenue is greater than marginal cost. D) that a monopoly does not incur increasing marginal cost.

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Those who believe that overall economic growth is more important than the distribution of income would say that:

A. if the society is not getting richer, then things can never become more equal. B. it is fundamentally unjust for some people to have so much when others have so little. C. if everyone is getting richer, the relative speed of these gains isn't as important. D. All of these are true.

Economics