What will happen if Kenya’s population grows faster than its output?
a. Its per capita output will fall.
b. Its per capita output will rise.
c. Its per capita output will fall, then rise.
d. Its per capita output will be stable.
a. Its per capita output will fall.
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Attempts by special-interest groups to gain favorable treatment from government are called
a. utility maximizing b. profit seeking c. rent seeking d. profit maximizing e. rent minimizing
Cartel members may agree to jointly limit their output in order to ______.
a. lower prices for consumers b. increase their tie-in sales c. support the profit-maximizing price d. comply with strong antitrust laws
By holding so much in foreign currency reserves, China is risking
A. A default on its bonds. B. Recession. C. Inflation. D. Deflation.
Which one of the following about a monopoly is false?
A) A monopoly could make profits in the long run. B) A monopoly could break even in the long run. C) A monopoly must have some kind of government privilege or government imposed barrier to maintain its monopoly. D) A monopoly status could be temporary.