China has a larger population than India and is expected to be the most populous nation in the world throughout the twenty-first century
Indicate whether the statement is true or false
FALSE
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The belief that the ethically proper thing to do in any situation is the thing that maximizes society's overall happiness and minimizes society's overall suffering is called
A) utilitarianism. B) diminishing marginal utility. C) the benefits-received principle. D) transcendentalism.
Consumption expenditure includes spending
A) on intermediate goods and services by firms. B) on office supplies by firms. C) by households. D) by households and spending on office supplies by firms. E) by governments when they are buying goods and services that consumers also buy.
To determine whether a market is perfectly competitive, economists examine the
A. number of firms in the market. B. similarities among the products of the different firms in the market. C. ease of entry and exit by firms in the market. D. All of the responses are correct.
Refer to the above table. The four-firm concentration ratio is
A. 86.5 percent. B. 11.6 percent. C. 13.3 percent. D. 33.3 percent.