The most important growth obstacle common to all DVCs is the lack of desire to increase their standards of living.
Indicate whether the statement is true or false.
Answer: False.
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Diamonds are expensive because:
A. very few diamonds are discovered each year. B. the seller of most diamonds in the world restricts output. C. they are a symbol of luxury. D. they are a form of conspicuous consumption.
According to the quantity theory of money, if the economy were facing inflation, the Federal Reserve Bank could combat it by:
A. decreasing the supply of money. B. increasing the supply of money. C. cutting taxes. D. increasing taxes.
Think about cost structures associated with each of the following and decide which is most likely to be a natural monopoly
a. jewelry manufacturer b. tax-preparation firm c. movie theater d. city bus company e. dry cleaner
Which statement is true?
A. The United States' economy is larger than Japan's and the United States' population is larger than Japan's. B. The United States' economy is smaller than Japan's and The United States' population is smaller than Japan's. C. The United States' economy is larger than Japan's and The United States' population is smaller than Japan's. D. The United States' economy is smaller than Japan's and The United States' population is larger than Japan's.