The vicious cycle of poverty is characterized by
a. low factor mobility
b. little institutional rigidity
c. high capital accumulation
d. continual technological change
e. all of the above
A
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Typical structure characteristics of interest to Industrial Organization researchers include
a. Barriers to entry b. Product differentiation among firms c. The number and size distribution of firms d. All of the above
The short-run aggregate supply curve: a. has the same slope as the LRAS
b. shifts only when the LRAS shifts in the same direction. c. normally slopes upward to the right because the costs of labor and other inputs are relatively fixed in the short run. d. normally has a slope of zero, meaning the curve is horizontal.
The U.S. market for locomotives is divided between two producers; General Electric has 70 percent of the market and General Motors has 30 percent. This market is an example of
a. a bilateral monopoly b. monopolistic competition c. a collusive monopoly d. a duopoly e. a cartel
An increase in government spending can lead to a decrease in GDP if the interest rate changes enough
a. True b. False