In defining the ____ from the railroad industry, economic historians measure the extra real GNP that can be attributed to this innovation
a. profits
b. social savings
c. wage income
d. balance of trade
d. social savings
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Which of the following is a characteristic of oligopoly?
A) easy entry and exit B) many firms C) strategic dependence D) none of the above
The General Agreement on Tariffs and Trade (GATT) was initiated in response to
a. in increase in exports of low-priced goods from developing countries to developed countries. b. the replacement of manufacturing jobs with service jobs in developed countries. c. economic dislocations caused by the North American Free Trade Agreement (NAFTA) in the 1990s. d. high tariffs imposed during the Great Depression of the 1930s.
If the price of a commodity is above marginal cost, then the economy will tend to
A. overproduce the item. B. underproduce the item. C. produce the optimal amount of the item. D. overproduce and underproduce the item cyclically.
When Carvana sold stock to the public in its IPO, it did so through the New York Stock Exchange. This is an example of Carvana using ________ to raise funds
A) indirect finance B) direct finance C) bonds D) corporate governance