The two industries most commonly receiving protection are:
A. agriculture and steel.
B. automobiles and pharmaceutica ls.
C. agriculture and clothing.
D. pharmaceutica ls and steel
Answer: C. agriculture and clothing.
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Ceteris paribus, as real GDP expected growth ________, investment spending ________
A) increases; decreases B) increases; increases C) decreases; increases D) changes; does not usually change
What is the Coase theorem? What conditions need to be present for this theorem to work?
What will be an ideal response?
The law of increasing costs indicates that the opportunity cost of producing a good:
a. is proportional to the production of the good. b. is constant to the production of the good. c. increases as more of the good is produced. d. decreases as more of the good is produced. e. increases as less of the good is produced.
A monopoly is a sole ____, and a monopsonist is a sole ____.
A. buyer in a product market; seller in a product market B. seller in a product market; seller in a labor market C. buyer in a product market; seller in a labor market D. seller in a product market; buyer in a labor market