A frim wishing to acquire a monopoly position would be willing to spend an amount up to its anticipated monopoly profit in rent-seeking activities
a. True
b. False
A
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An organization that brings together the factors of production is called
A) an industry. B) a conglomerate. C) a plant. D) a firm.
Which of the following is a cause of higher birth rates in developing countries?
a. Children are viewed as a source of farm labor b. Children are viewed as economic and social security as the parents age c. Higher child mortality rates engender higher birth rates d. All the answers are correct e. None of the answers is correct
Supply-side economics focuses on tax cuts to stimulate
A. aggregate supply by increasing production. B. government spending. C. household consumption. D. aggregate demand by reducing saving.
The U.S. economy does a very good job with respect to
A. both equity and efficiency. B. equity, but not efficiency. C. efficiency, but not equity. D. neither equity nor efficiency.