According to the text, the most important of the five factors which give rise to monopoly is
A. economies of scale.
B. patents.
C. exclusive control over important inputs.
D. network economies.
E. government licenses.
Answer: A
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In reality, the wage-gap between two countries will:
A. Always be reduced to zero through migration B. Be greater than zero because of migration costs C. Always be sufficient to cover the marginal costs of migration D. Be smaller the greater the distance between the countries
The term ________ refers to how the burden of the tax is distributed across various agents in the economy
A) tax funding B) tax incidence C) tax haven D) tax discrimination
Compared to the demand for coffee, the market demand for French Roast coffee is likely to be
A. more elastic. B. more inelastic. C. perfectly elastic. D. perfectly inelastic.
Unemployment in 1939, after a decade of recession and depression, still exceeded 10 percent
Indicate whether the statement is true or false