Intel's monopoly in the sale of microchips for personal computers would be considered:
A. Legal by "behaviorists" but illegal by "structuralists"
B. Legal by "behaviorists" and "structuralists"
C. Illegal by "behaviorists" and "structuralists"
D. Illegal by "behaviorists" but legal by "structuralists"
A. Legal by "behaviorists" but illegal by "structuralists"
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Hyperinflation is defined as periods of
A) inflation over 25 percent per year B) negative price changes. C) low inflation. D) inflation over 50 percent per month. E) inflation under 10 percent per year.
Which of the following is not a cause of market failure?
A) Incomplete information B) Externalities C) Individuals acting according to their own self-interest D) Public goods
Vic derives less satisfaction from each additional cup of coffee he drinks. Therefore, he will buy added cups of coffee only if ______.
a. the quantity is increased b. the price is reduced c. the quantity is reduced d. the price is increased
Which of the following is NOT a benefit of economic growth?
A. urban congestion B. improved health C. reduction in illiteracy D. longer lives