In the long run, even if new fringe firms enter the oligopoly market, the dominant firm's profit will remain unaltered
Indicate whether the statement is true or false
F
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Small-denomination time deposits refer to certificates of deposit with a denomination of less than
A) $1,000. B) $10,000. C) $100,000. D) $1,000,000.
Individuals on opposite sides of the political spectrum typically voice opposite viewpoints on universal access and universal coverage. What is the difference between the two concepts?
a. Republicans typically support universal coverage; Democrats support universal access. b. Universal access guarantees that everyone that wants it has health insurance. c. Universal access usually requires mandatory participation; universal coverage is a voluntary system. d. Universal access means that everyone has access to medical treatment from the provider of his or her choice. e. Universal coverage guarantees that everyone will have access to health insurance coverage.
In advising Congress and the President on how much to increase defense spending in response to security concerns, economists would suggest that they evaluate the
A. average cost per citizen of defense versus its average benefit. B. median cost per citizen of defense versus its median benefit. C. total cost of defense versus its total benefit. D. marginal cost of each additional dollar spent on defense versus its marginal benefit.
A nation's average annual real GDP growth rate is 3%. Based on the "rule of 72," the approximate number of years that it would take for this nation's real GDP to double is
A. 40 years. B. 175 years. C. 17.5 years. D. 24 years.