A federal system consists of one level of government to provide public goods and services.

A. True
B. False
C. Uncertain


B. False

Economics

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The goal of price discrimination is to

a. Convert consumer surplus to producer surplus b. Maximize profits c. Both a and b d. Make pricing decision difficult

Economics

Schumpeter hypothesized that monopolies

a. do not maximize profits b. advertise extensively to keep out new entrants c. may charge a lower price than the price generated in a perfectly competitive market d. usually experience constant returns to scale e. have higher costs than smaller firms

Economics

If a commodity’s price is above its marginal cost, the market will tend to produce too much of the good.

Answer the following statement true (T) or false (F)

Economics

The opportunity cost of holding a dollar is

A. the interest yield that could have been earned by holding some other asset. B. the price of a government bond. C. a dollar. D. less than a dollar.

Economics