Barriers to entry ________.
A. are characteristic of pure monopoly
B. are typically the result of wrongdoing on the part of a firm
C. usually result in perfect competition
D. exist in economic theory but not in the real world
Answer: A
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Government transfer payments like social security and unemployment benefits are
A) included in government purchases. B) not included in government purchases. C) not included in government purchases, but they are included in the consumption component of GNP. D) not included in government purchases, but they are part of the investment component of GNP. E) included in government purchases but not in the GNP.
According to Classical interest rate theory, which of the following will decrease the equilibrium real interest rate?
A) A decrease in investment B) A decrease in saving C) An increase in money demand D) A decrease in money demand
An incentive conflict is when
a. The agent and the principal have identical incentives b. The agent has different incentives than does the principal c. The agent and the principal neither have any incentives to work hard d. None of the above
Country Z has established specific limits for allowable pollution. Which term best describes this situation?
a. Command-and-control regulation b. Cap and trade program c. Pollution charges d. Market-oriented environmentalism