Which of the following would not lead to higher concentration in an industry?
A. A large number of firms have entered the market.
B. Some firms have become technologically superior.
C. Larger firms gain control of important resources, squeezing out smaller firms.
D. Innovation increases plant size of some firms and lowered their average costs.
Answer: A
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Economic freedom
A) is harmed by having too many property rights. B) is created when the nation imposes many regulations on businesses. C) is founded, in part, on the rule of law. D) is not important for nations to grow. E) must come from a democratic government.
___________ is credited with introducing the water frame in American spinning mills
a. Samuel Slater b.Oliver Evans c. Robert Fulton d. Eli Whitney
If the U.S. government decides to distribute surplus cheese to food banks for the homeless, the government is addressing the question of
a. which goods and services should be produced with society's scarce resources b. what production methods should be used to produce goods and services c. how will output be allocated among the individuals in the society d. what prices will be charged for goods and services e. determining the optimal degree of specialization
Technically speaking, in what year did the "Great Recession" end?
a. 1933 b. 1935 c. 2007 d. 2009 e. It had not ended as of 2011.