As the number of firms in an oligopoly industry decreases, the market moves closer to a __________ market
Fill in the blank(s) with correct word
monopoly
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If total government tax collections equal $100 billion, transfer payments equal $50 billion, and government interest payments equal $5 billion, then net taxes equal:
A. $105 billion. B. $45 billion. C. $55 billion. D. $155 billion.
A good for which demand decreases when income decreases is known as a(n) ________ good
A) normal B) inferior C) complementary D) substitute
Educational policy in most developing countries focuses too much on primary and secondary education and not enough on higher education.
Answer the following statement true (T) or false (F)
You are trying to decide how to spend your last lunch dollar. You should use that dollar to buy more of the item:
A. that gives you the highest marginal utility per dollar. B. that costs the least. C. that gives you the highest average utility per dollar. D. from which you already have gained the greatest total utility.