Monopolies do not last in the long-run
Indicate whether the statement is true or false
False
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Protecting intellectual property rights:
A. can reduce total surplus for society. B. never increases total surplus for society. C. never affects total surplus for society. D. always increases total surplus for society.
Which of the following might explain why the government would create a price floor for a certain good?
a. The equilibrium price that would result in the market would be considered too high b. The equilibrium price that would result in the market would be considered too low c. The equilibrium quantity that would result in the market would be considered too high d. The equilibrium quantity that would result in the market would be considered too low e. The market will never achieve equilibrium on its own
Which of the following statements about deposit/refund systems is INCORRECT?
a. Most deposit/refund systems in the United States are used for beverage containers and lead-acid batteries. b. Some nations use deposit/refund systems for automobile bodies. c. The deposit is imposed at the time of purchase like a retail disposal charge. d. To be a viable system, the refund must be exactly equal to the deposit.
When a country saves a larger portion of its GDP than it did before, it will have
a. more capital and higher productivity. b. more capital and lower productivity. c. less capital and higher productivity. d. less capital and lower productivity.