A study of the market for optometrists' services in the 1960s showed that
a. all states in the United States prohibited advertising by optometrists.
b. almost all professional optometrists opposed legal restrictions on their rights to advertise.
c. the average price of eyeglasses would decrease if the legal restrictions on advertising by optometrists were removed.
d. advertising on eyeglasses limited competition among optometrists.
c
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Encouraging international trade will
A) slow economic growth as many workers lose their jobs to foreign workers. B) speed economic growth as workers specialize and trade with others. C) speed economic growth because international trade limits the harm done by property rights. D) slow economic growth when a country is forced to specialize and trade with other countries. E) speed economic growth as workers diversify their knowledge and limit trade.
The U.S. current account equals
A) U.S. exports - U.S. imports - net income from foreign investments + net transfers from abroad. B) U.S. exports - U.S. imports + net income from foreign investments + net transfers from abroad. C) U.S. exports + U.S. imports + net income from foreign investments + net transfers from abroad. D) U.S. imports - U.S. exports + net income from foreign investments + net transfers from abroad.
Which of the following is a public good?
A) Telephone service B) Broadcast TV C) A daily newspaper D) The Red Cross E) all of the above
How is monopolistic competition like perfect competition? How is it like monopoly?
What will be an ideal response?