As growth progresses and countries become richer, pollution tends to fall.
Answer the following statement true (T) or false (F)
True
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In the range of disposable income where the consumption function lies above the 45° line,
A) disposable income is negative. B) saving is negative. C) disposable income equals planned expenditures. D) induced consumption is zero. E) saving is positive.
It has been observed that whenever one imported beer distributor raises its price, other imported beer distributors quickly raise their price as well. Such behavior is characteristic of:
A) the barometric-firm model of price leadership. B) explicit collusion. C) price leadership. D) the kinked-demand curve model of oligopoly.
In the long run, a perfectly competitive industry tends to develop differentiated products.
Answer the following statement true (T) or false (F)
Pure economic profit must be at a maximum for a monopolist who has a level of output in which total revenue is at a maximum
a. True b. False Indicate whether the statement is true or false