The argument that concentration of market power enhances research and development efforts may be weak because
A. No existing monopoly has a research and development program.
B. Monopolies cannot afford basic research.
C. A monopoly may have no clear incentive to pursue new research and development.
D. No one has attempted to gather any empirical evidence.
Answer: C
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The process of making the best of our limited resources by doing the things we are best at and hiring other people to do the things we are not particularly good at is called
A) absolute advantage. B) comparative advantage. C) specialization. D) protectionism.
Which of the following is NOT included in measured U.S. GDP?
A) the value of the pizzas produced at Pizza Hut in Kansas City B) the value of leisure time C) the value of the goods produced at a French owned plant in Atlanta, Georgia D) the value of the services produced by a lawyer in Tampa, Florida E) the value of a plane produced by Boeing in Washington and sold to Air France
Zach Greinke's marginal product as a baseball player would be about the same as a Los Angeles Dodger and a Kansas City Royal. Why were the Dodgers willing to pay Greinke a higher salary than he was paid as a Royal?
A) The Dodgers needed a superstar to attract fans to their games. The Royals had no need to attract fans to their games. B) The owner of the Dodgers was under more pressure from the fans and the Los Angeles media to pay Greinke a higher salary than the Royals were willing to pay. C) The Dodgers play more home games than the Royals. As a result, the Dodgers earn more revenue from ticket sales that they can use to pay player salaries. D) Greinke's marginal revenue product is higher as a Dodger than it was as a Royal.
On Nov 5 2015, the DJIA was closest to
a. 18 b. 180 c. 1800 d. 18000