An advantage of Microsoft Windows is its compatibility with the widest range of hardware and software
The dominance of Windows is self-reinforcing: hardware and software manufacturers ensure that their products are compatible with Windows in order to have access to the large number of Windows users. Which principle best describes this scenario?
A) network externalities B) economies of scale
C) endorsement effects D) endowment effects
A
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Oligopolies can result from any of the following EXCEPT
A) economies of scale. B) vertical mergers. C) government regulation. D) diseconomies of scale.
Technological advancements cause structural unemployment. However, they help in:
a. lowering the rate of interest in the economy. b. increasing the price level in the economy and hence make business more profitable for the firms. c. improving living standards by giving consumers a greater variety of goods at lower costs. d. raising government's tax revenue. e. raising the aggregate income in the economy.
An increase in the saving rate permanently increases the growth rate of real GDP per person
a. True b. False Indicate whether the statement is true or false
The purchasing power of money increases when
A. the inflation rate increases. B. there is deflation. C. there are more dollars in the economy. D. there is inflation.