Creative destruction is least beneficial to:
A. workers in the "destroyed" industries.
B. workers in the "created" industries.
C. consumers.
D. society as a whole.
Answer: A
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Briefly and concisely define the following terms: a. statistical discrimination b. compensating wage differential c. affirmative action
What will be an ideal response?
Describe the relationship between average variable cost and average total cost. How are the general shapes of the AVC and ATC curves related?
The nominal exchange rate is 2 Barbados dollars per U.S. dollar. If the price of a good in Barbados is 3 Barbados dollars and the price in the U.S. is 2 U.S. dollars, what is the real exchange rate to the nearest 100th?
a. 3 Barbados goods per U.S. good b. 1.33 Barbados goods per U.S. good c. .75 Barbados goods per U.S. good d. none of the above is correct
Which of the following is the best example of a private, unregulated monopoly or near-monopoly is:
A. the local post office. B. the local electric company. C. a professional sports team. D. the only large employer in a small town.