Countries that have experienced sustained increases in their standard of living have achieved them because of
A) higher rates of saving and investment.
B) higher rates of population growth.
C) sustained technological change.
D) All of the above are correct.
C
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In an oligopoly market
A) individual firms pay no attention to the behavior of other firms. B) one firm's pricing decision affects all the other firms. C) the pricing decisions of all other firms have no effect on an individual firm. D) advertising of one firm has no effect on all other firms.
In her calculation of the cost of going to college, an economist would include the amount of forgone earnings over the years spent at college.
Answer the following statement true (T) or false (F)
The concept of holding reserves, such as gold, that are less than the value of the total deposits
A) is known as fractional reserve banking.
B) has been illegal since the passage of the Financial Services Modernization Act of 1999.
C) is known as non-credit banking.
D) None of the above are correct.
What is the problem with marginal cost pricing in the natural monopoly situation? How do regulatory agencies in the United States usually handle the problem?
What will be an ideal response?