Because two percent of the largest farms grow half of all of the grain in the United States, the grain industry is technically classified as an oligopoly
Indicate whether the statement is true or false
FALSE
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Suppose the economy is producing at the natural rate of output. An open market sale of bonds by the Fed will cause ________ in real GDP in the long run and ________ in inflation in the long run, everything else held constant
A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
The _____ tend to have a smaller public sector relative to the total economy
a. socialist economies b. centrally planned economies c. autocratic economies d. market economies e. mercantilist economies
If the price effect outweighs the income effect of a wage increase, the quantity of labor supplied will:
A. be negative. B. remain the same. C. increase. D. decrease.
Which of the following would NOT be considered a capability in the capabilities approach?
A. To live free of the fear of violence B. To be able to find secure and meaningful work C. To be able to afford to travel freely D. All of these are considered capabilities