A monopoly that emerges from economies of scale is called a natural monopoly
Indicate whether the statement is true or false
true
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Fully anticipated monetary policy actions cannot alter either the rate of unemployment or the level of real GDP. This statement is
A. not supported by any economic theory. B. the Phillips curve. C. the policy irrelevance proposition. D. the nonaccelerating inflation rate of unemployment theory.
When spending is less than production, inventories are higher than what producers expected.
Answer the following statement true (T) or false (F)
Which of the following statements is true of foreign aid?
A) In practice, much of foreign aid does not get invested in new technology or education. B) Foreign aid is regressive to development. C) Foreign aid is provided only by financial institutions such as the World Bank. D) Foreign aid is directly responsible for reducing corruption in developing nations.
The additional benefit of increasing some activity by one unit is called the
A) marginal benefit. B) opportunity cost. C) total benefit. D) scarcity. E) unit cost/benefit.