Peter Theil sees monopolies as:
A. solving a unique problem for consumers.
B. bad for business.
C. bad for consumers.
D. bad for society.
Answer: A
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Which of the following is NOT an example of a consumption expenditure?
A) a restaurant meal B) a digital camera you purchase to take on vacation C) a new county jail D) a motorcycle you purchase to ride on the weekends
A federal budget deficit ________ interest rates, which ________ exchange rates (foreign currency per domestic currency), and ________ the balance of trade
A) reduces; raises; reduces B) raises; reduces; reduces C) reduces; reduces; raises D) raises; raises; reduces
Economic bads are items
A) for which the produced quantity is less than the amount desired at a positive price. B) for which the desired quantity is less than what nature provides at a zero price. C) that individuals desire but which receive social disapproval. D) that receive social approval but which governments dislike.
The coordination task of dividing products among consumers is a problem of
A. output selection. B. production planning. C. distribution. D. market segmentation.