Which of the following markets is an example of an oligopoly?
A) The market for premium apparels
B) The market for books
C) The market for video games
D) The market for wheat
A
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When a reward might not occur, economists incorporate the uncertainty by multiplying the reward by a:
A) positive factor more than 1. B) positive factor less than 1. C) negative factor more than -1. D) negative factor less than -1.
Specialization and trade can take place only if a country is endowed with more of something compared to other countries
a. True b. False Indicate whether the statement is true or false
Tax incidence refers to
a. what product or service the tax is levied on. b. who bears the tax burden. c. what sector of the economy is most affected by the tax. d. the dollar value of the tax revenues.
A country with high economic growth:
A. will definitely experience high economic development. B. will never experience high economic development. C. may not experience economic development without attention paid to policy actions. D. not necessarily will experience high economic development.