Methods of rent seeking include which of the following? I. Buying a monopoly II. Creating a monopoly III. Price discrimination
A) I and II
B) I and III
C) II and III
D) III only
A
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Which of the following is a reason behind the rise in US trade over the last 80 years?
A) Rising government expenditure B) Improved bureaucracy C) Improved transportation technology D) Falling consumption expenditure
In the long run, a factory is usually considered a fixed input
a. True b. False Indicate whether the statement is true or false
A decrease in the price of memberships to Gold's Gym fitness centers is likely to:
A. decrease the demand for workout clothing. B. increase the demand for workout clothing. C. decrease the demand for Gold's Gym memberships. D. increase the demand for Gold's Gym memberships.
Exhibit 5-8 GDP data (billions of dollars) Personal consumption expenditures$850 Interest90 Corporate profits150 Government spending400 Depreciation100 Rental income70 Gross private domestic investment120 Compensation of employees830 Exports120 Imports70 Indirect business taxes80 Proprietors' income120 Personal income taxes110 Social Security taxes50 Transfer payments160 In Exhibit 5-8, personal income (PI) equals:
A. $1,280 billion. B. $2,290 billion. C. $1,310 billion. D. $2,320 billion.