Although the U. S. airline industry has only a relatively small number of sellers, the market is nevertheless highly competitive. The reason is that:
A. the number of buyers is very large.
B. due to fierce competition, no firm has significant control over the quantity supplied.
C. most airline routes are served by relatively many sellers.
D. due to fierce competition, no firm has significant control over prices.
D. due to fierce competition, no firm has significant control over prices.
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Which of the following statements is true?
a. Discrimination against women and blacks reduces the demand for these workers resulting in lower wages paid these workers. b. Discrimination is no longer a problem in the United States. c. A negative income tax system is a plan where everyone pays the same percentage of their income as taxes. d. A negative income tax system is a plan where those below a certain income receive a cash payment from government.
Birth rates and death rates determine not only population size, but the age distribution of the population. For the poorest countries in the world, the percentage of the population that is under the age of fifteen years old is approximately
a. 5–10 percent b. 10–15 percent c. 15–30 percent d. 30–35 percent e. more than 35 percent
In the text, U.S. and Mexico trade corn and oil and both end up with more corn and oil. Economists refer to this increased global output as
a. terms of trade b. advantage of trade c. absolute advantage d. comparative advantage e. gains from trade
Regulatory capital is the amount of capital financial institutions should hold based on the riskiness of their different assets
Indicate whether the statement is true or false