If the production of computer chips yields greater technology spillovers than the production of potato chips, the government should
a. encourage the production of computer chips with subsidies.
b. discourage the production of potato chips with taxes.
c. encourage the production of potato chips with subsidies.
d. discourage the production of computer chips with taxes.
a
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Pure monopoly
A. is defined as having only one supplier. B. has no close substitutes for its product. C. exists when entry and survival of potential competitors is extremely unlikely. D. All of these responses are correct.
The expansion of governmental direct controls over the economy which characterized the "New Frontier" and "Great Society" programs of the Kennedy-Johnson years was continued and expanded by the Nixon Administration
Indicate whether the statement is true or false
Future benefits for Social Security will ultimately be determined by _____
a. population growth b. individual decisions on when to retire c. the existence of private accounts d. voters through the political process
Which of the following are NOT part of the World Bank?
A) International Development Association B) Federal Reserve Bank of New York C) International Center for Settlement of Investment Disputes D) Multinational Investment Guarantee Agency