The creation of markets that were previously "missing":
A. can create winners and losers.
B. increases total surplus.
C. benefits those who interact in the new markets.
D. All of these are true.
D. All of these are true.
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The poorest countries in Africa have some of the highest growth rates, thus proving the convergence hypothesis.
Answer the following statement true (T) or false (F)
A market with one or a small number of firms but no barriers to entry is known as
A) a natural monopoly. B) a contestable market. C) a perfectly competitive market. D) monopolistic competition.
An increase in the number of nursing homes and community health centers and the expansion of home care has led to an increase in the demand for nurses. At the same time, improving opportunities for women in business have reduced the supply of nurses. Hospitals, the major employers of nurses, have resisted wage increases. The resulting situation could be described as
a. the cost disease of the service sector. b. a shortage of nurses. c. the problem of auxiliary restrictions. d. the wage floor problem.
The output of our economy is represented by the letter _____ in the equation of exchange.
A. M B. V C. P D. Q