Unlike World War I (1914–18), the war debt of World War II (1941–45) was manageable and did not contribute to inflation
Indicate whether the statement is true or false
False
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Refer to the scenario above. If the government removes the ban on Firm B and both Firm A and firm B aim at maximizing profits:
A) marginal cost of Firm A will eventually be greater than the marginal cost of Firm B. B) marginal cost of Firm B will eventually be greater than the marginal cost of Firm A. C) marginal cost of both firms will eventually be equalized. D) the difference in the marginal cost of both firms will eventually increase.
Davy's Doggie Daycare rents a warehouse and field for $2,000 a month to house its boarding pooches. Farmer Fred owns the property, he used to use it for farming and made $3,000 a month, but has since retired. What is the cost of the warehouse and field to Davy?
A. It is an explicit cost of $2,000. B. It is an implicit cost of $3,000. C. It is an implicit cost of $0. D. There is both an explicit and implicit cost totaling $5,000.
It is possible to analyze education decisions in a manner similar to the decision to acquire more
a. capital. b. leisure. c. work. d. goods and services.
Structuralists take the position that:
A. the rule of reason is appropriate and desirable in interpreting the Sherman Act. B. only unreasonable anticompetitive acts should be regarded as violations of the antitrust laws. C. industries should be judged on the basis of their technological progress and their price- output behavior. D. an industry that is highly concentrated will behave monopolistically.