The two main economic criticisms about monopolies are that they are ______.
a. unregulated and illegal
b. weak and small
c. unfair and inefficient
d. violent and aggressive
c. unfair and inefficient
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This table shows individual demand schedules for a market.
According to the table shown, if the price were $0.50, what will total demand by Betty and Barney be?
A. 18
B. 36
C. 75
D. 47
Although pollution is caused by a failure of the market, many economists believe that the best way to protect the environment is to utilize the price mechanism.
Answer the following statement true (T) or false (F)
Which of the following includes only examples of industrially advanced countries (IACs)?
A. The United States, Canada, and Mexico. B. Pakistan, India, and China. C. Japan, South Korea, and China. D. Germany, Italy, and France.
The population of a small town is 5,000. There are 4,000 people in the labor force, and 3,000 people are employed. The unemployment rate equals
A) 25 percent. B) 60 percent. C) 75 percent. D) an undetermined amount given the lack of information.